Section 2(22)(e)

This query is : Resolved

CA Sahil Singla.. (Querist)
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16 May 2012 Sir

The section 2(22)(e) uses the words closely held company. Can a public limited co. be a closely held company ?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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16 May 2012 Closely held company is preceived generally
as unlisted public companies and private companies.

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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16 May 2012 Closely held company shall always be either a private company or an unlisted public company.

Unlisted Public means company which issues shares within a group/relatives/friends etc but no public at large.

Indirectly, Person who are running the company are the real owners. Hence, Section is attracted to them also.

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CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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16 May 2012 A listed company can never be a closely held company.