Sec 205A of Companies Act

gokul (Accountant) (126 Points)

16 September 2010  

Applicability of Sec 205A of Companies Act

Vide Notification GSR 580(E), provision of Sec 205A has been exempted to a Government Company whose entire paid up share capital is held by Central Government or State Government.....

Company A (Government Holding - 95%)

Company B (Wholly owned subsidiary of Company A)

Company A cannot avail the benefit of the above notification since the entire paid up share capital is not held by Government

Whether Company B is eligible for exemption ?

Thanks