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Sec 56

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18 July 2014 Sec 56(2)(viia) / 56(2)(viib) are not applicable on companies in which public are substantially interested.

Now wish to know that there is a company listed on a regional stock exchange which is a recognized stock exchange. But on looking for the status of the company, it is a suspended company. The question is that if a suspended company will also be treated as "a company in which public are substantially interested" or not and accordingly Sec 56 (2)(viia) / (viib) would be applicable to it or not?
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
18 July 2014
in the roc records what is the status of the company is it public or private?

if its public then not applicable.
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