MGT 9
This query is : Resolved
14 October 2020
Sir/Madam,
Two companies having same directors and holding pattern same in both the companies , viz -98%,1% and 1%.
Are these two companies treated as associate company as per sec2(6) of the companies act 2013 .
Two companies having same directors and holding pattern same in both the companies , viz -98%,1% and 1%.
Are these two companies treated as associate company as per sec2(6) of the companies act 2013 .
Arun Menon S
(Expert)
14 October 2020
No. The significant influence as mention in sec 2(6) exists only when a company over other company has at least twenty per cent. of total voting power or control in business decisions under an agreement.
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