Section 2(22)(e)
This query is : Resolved
16 May 2012
Sir
The section 2(22)(e) uses the words closely held company. Can a public limited co. be a closely held company ?
The section 2(22)(e) uses the words closely held company. Can a public limited co. be a closely held company ?
16 May 2012
Closely held company is preceived generally
as unlisted public companies and private companies.
as unlisted public companies and private companies.
16 May 2012
Closely held company shall always be either a private company or an unlisted public company.
Unlisted Public means company which issues shares within a group/relatives/friends etc but no public at large.
Indirectly, Person who are running the company are the real owners. Hence, Section is attracted to them also.
Unlisted Public means company which issues shares within a group/relatives/friends etc but no public at large.
Indirectly, Person who are running the company are the real owners. Hence, Section is attracted to them also.
16 May 2012
A listed company can never be a closely held company.
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