what it the meaning of substantial interest in context of company law? is the director of the company is also considered having substantial interest?
3 Replies
Vijetha
(Student)
(387 Points)
Replied 18 July 2009
Substantial interest - means holding of a beneficial interest by a person in the shares of a company & the amount paid up on which exceeds ten percent of the paid up capital of the company.
Im not sure, so Plz wait for others' reply.
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 18 July 2009
Hi,
Plz check my Corporate Law Section reply
Regards
CA. Kumar Vineet
(Partner)
(97 Points)
Replied 18 July 2009
Substantial int. differ for every sections of companies act. No need to know unless mentioned in the section. Like in Sole selling agent sec 294AA(2) specifies the limit of holding of shares for substantial interest for this sec. only
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