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Interpretation of statues

Vishnu priya (Student CA Final ) (37 Points)

05 February 2017

If language of the law uses the word "Not less than 5 "- Is 5 included or we have to interpret the minimum as 4. Kindly help.

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9 Replies

commerce (student) (287 Points)
Replied 05 February 2017

it means it should

commerce (student) (287 Points)
Replied 05 February 2017

be at least 5

Jatin Bajaj (CS) (2928 Points)
Replied 06 February 2017

IT SHALL BE MINIMUM 5 OR MORE THAN 5 , SO 5 SHALL BE INCLUDED BUT SHALL NOT BE LESS THAN 5

Ravi Kiran Vustela (Knowledge Seeker) (1353 Points)
Replied 06 February 2017

5 or More.... greater than 4.9

P C Agrawal (Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad) (8229 Points)
Replied 06 February 2017

It just means 5 or more.

We cannot add any other number from our side (e.g. more than 4.9 - It is wrong since 4.94 is more than 4.9 but still not covered in 'not less than 5').

Ravi Kiran Vustela (Knowledge Seeker) (1353 Points)
Replied 06 February 2017

PC agarwal sir is there any section which requires 100% members approval.. can uh please say what is section 117(3)(d) .... is it talking about entrenched articles

P C Agrawal (Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad) (8229 Points)
Replied 06 February 2017

No, example of such written consent of members is Sec.48 dealing with variation of shareholders' rights. In the absence of written consent, special resolution of that class would be required.

Vishnu priya (Student CA Final ) (37 Points)
Replied 06 February 2017

Thank you all.

Ravi Kiran Vustela (Knowledge Seeker) (1353 Points)
Replied 09 February 2017

PC agarwal sir If a company is going for public issue of debentures is it required to appoint debentures trustees??? Rule 18(2) is talking about debenture trustee ....however rule 18(6) is saying the provisions of sub rule 2 to 6 is not applicable to the public offer of debentures........