22 December 2008
Pls solve my query urgently............. when a company called to have acquired the controlling interest in another co., I've seen Section 4 of the companies act, 1956 but still have a doubt, with regards to 51%, of what? that whether it is just 51% of paid up share capital or authorised share or subscribed share capital? Or whether it is 51% of equity share capital Or 51% sum of paid equity + Prefe. share capital Or 51% of paid equity +pref.share capital+debentures? pls reply as per the prov. of the act.
CAclubindia
