Sec 2 (6) of the companies act, 2013 - associate company
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 March 2016
Dear Experts,
Can any body please clarify the following
Sec 2 (6) of the Companies Act, 2013 - Associate Company
" in relation to another company, means a company in which that other company has a significant influence.
significant influence = control of at least 20% of total share capital.
Question: if the other company does not hold any shares in this Company but directors of other company are holding more than 20% of total share capital of this Company. Then, can these two companies are associate?
Regards
Rajesh Kumar Yadav
Company Secretary
Can any body please clarify the following
Sec 2 (6) of the Companies Act, 2013 - Associate Company
" in relation to another company, means a company in which that other company has a significant influence.
significant influence = control of at least 20% of total share capital.
Question: if the other company does not hold any shares in this Company but directors of other company are holding more than 20% of total share capital of this Company. Then, can these two companies are associate?
Regards
Rajesh Kumar Yadav
Company Secretary
03 March 2016
No..it can not be called as Associate Company.
Definition clearly says 'a company in which the OTHER COMPANY has significant influence.
Definition clearly says 'a company in which the OTHER COMPANY has significant influence.
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Querist : Anonymous
Querist :
Anonymous
(Querist)
04 March 2016
Thank you Mr. Pratik.
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