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sec 141 of co. act 2013

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107 Points Joined December 2012
Mr A auditor of ABC co...XYZ is subsy of ABC co...Mr B is relative of Mr.A...Can Mr B hold security/interest in XYZ. If yes then upto what limit.
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On 20 January 2018 at 11:22 Report
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Student CA FINAL
388 Points Joined August 2014
Yes Mr.B can hold security in XYZ ltd upto face value not exceeding one lakh rupees.
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On 20 January 2018 at 13:07
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2 Points Joined January 2018
why notice should be sent 21 days before AGM
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On 21 January 2018 at 08:10
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107 Points Joined December 2012
@ Rishu Raj 21 days are clear 21 days which gives time to members to get prepared for GM..co. may send notice of GM even longer period than 21 days.
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On 21 January 2018 at 09:08
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CA-Final Student
801 Points Joined October 2017
Sorry @ Palak, Mr.B can hold security in ABC upto ₹1,00,000 of face value, not in XYZ, subsidiary of ABC.
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On 21 January 2018 at 20:44
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107 Points Joined December 2012
@ pradeep I do think so..my doubt is can Mr B hold any amount of security in subsy of ABC.
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On 21 January 2018 at 20:51
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CA-Final Student
801 Points Joined October 2017
No,he can't so.
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On 22 January 2018 at 05:46
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107 Points Joined December 2012
@ Pradeep ..any proof on your opinion..if you wants to give
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On 22 January 2018 at 07:55
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CA-Final Student
801 Points Joined October 2017
first proviso to sec.141(3)(d)(i).
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On 27 January 2018 at 06:00

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