Sec 56
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 February 2011
Whether the new share issue of a unlisted company will attract the provsions of Sec 56 of the Act.
Whether the right share issue of a unlisted company will attract the provsions of Sec 56 of the Act.
Whether the right share issue of a unlisted company will attract the provsions of Sec 56 of the Act.
CA PARAS BAFNA
(Expert)
12 February 2011
Section 56 (2)(viia) is applicable to Firms or a closely held companies (Companies in which public are not substantially interested).
*
Except a pvt ltd Co.,an unlisted company may be a public limited company or vice versa.
So it is not always true that every unlisted
company's shares are covered under Section 56 (2)(viia).
*
Except a pvt ltd Co.,an unlisted company may be a public limited company or vice versa.
So it is not always true that every unlisted
company's shares are covered under Section 56 (2)(viia).
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