05 March 2010
plz explain me the difference between the statutory reisters required to b maintained u/s 372(6) n sec 49(7)....wht kind of investments to b included.....does it include mutual funds,FDR of bank, shares in group companies????
06 March 2010
As per Section 49(7, register of Investment is required when Company make investment but not in name of Company. i.e. if Company XYZ Ltd. makes invest it is made in name of Mr. A but beneficial holder will be Company XYZ Ltd. This will cover all invest' including mutual funds,FDR of bank, shares in group companies also.
While under Section 372(6) provides for making of Investment in other Body Corporate or other Company. So all the investment made by the Company in any other Company or Body Corporate will be included in this register even if it is made in its name or on other person on behalf of Company. Howeve this Section is not applicable w.e.f. 31.10.1998
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