Section 295 of Companies Act, 1956


Ashish Sharma (Service)     18 February 2011

Ashish Sharma
Service 
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sub section 1(e) of section 295 the body corporate describe seems to be subsidiary but in Section 295(2)(b) and (c) Exempt subsidiary. Finally is section 295 applicable to subsidiary or not?  

avater

nidhigoel89 (Company Secretary )     19 February 2011

nidhigoel89
Company Secretary  
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Hello!

A subsidiary co. is specifically exempt u/ 295 (2)(b)and (c)............And as far as question arises of sec 295 (1)(e) then i would recommend that a subsidiary co MAY come in ambit of it bt which is specifically excluded further.

A specific law always prevail over general law. 

 

Regards

Nidhi

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