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sec 141 of co. act 2013
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.
Replies (8)
Yes Mr.B can hold security in XYZ ltd upto face value not exceeding one lakh rupees.
why notice should be sent 21 days before AGM
@ 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.
Sorry @ Palak, Mr.B can hold security in ABC upto ₹1,00,000 of face value, not in XYZ, subsidiary of ABC.
@ pradeep I do think so..my doubt is can Mr B hold any amount of security in subsy of ABC.
No,he can't so.
@ Pradeep ..any proof on your opinion..if you wants to give
first proviso to sec.141(3)(d)(i).
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