sec. 81
This query is : Resolved
anant hegde
(Querist)
29 November 2010
does sec. applies to private company?
udit sharma
(Expert)
29 November 2010
No not applicable to an Independent Private Company....
God Bless
Udit Sharma
God Bless
Udit Sharma
CA Sanat Pyne
(Expert)
29 November 2010
Agree with Uditji,
Sec 81(3) clearly defines
Nothing in this section shall apply-
(a) to a private company; or
(b) to the increase of the subscribed capital of a public company caused by the exercise of an option attached to debentures issued or loans raised by the company-
(i) to convert such debentures or loans into shares in the company, or
(ii) to subscribe for shares in the company:
Sec 81(3) clearly defines
Nothing in this section shall apply-
(a) to a private company; or
(b) to the increase of the subscribed capital of a public company caused by the exercise of an option attached to debentures issued or loans raised by the company-
(i) to convert such debentures or loans into shares in the company, or
(ii) to subscribe for shares in the company:
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