Company law

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 June 2013 Dear Frnz,

Can an Indian Listed company sale its investment (in shares of a group company) to any of its Director without any restriction/approval?

Ajay Mishra

Ajay Mishra (Expert)
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24 June 2013 Hi

Yes, they can do so with the approval of the board.

Querist : Anonymous

Querist : Anonymous (Querist)

24 June 2013 if the investment is 25% of the investee company?

Querist : Anonymous

Querist : Anonymous (Querist)

24 June 2013 if the investment is 25% of the capital of the investee company?

Ajay Mishra

Ajay Mishra (Expert)
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24 June 2013 Please check it is not a substantial sale of investment which is materially affect the company. It can be 25% or more.

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