hi
can anybody tell me that sec 292A is applicable on private co. or not?
is it applicable on pvt co. which are subsi of pu. co also?
3 Replies
Gargi Ranade
(CS)
(619 Points)
Replied 02 March 2009
Section 292A is not applicable to Private limited Company as first few introductory words of section itself clearly states that Every public limited Company having paid up capital of not less than five crores rupees shall constitute a committee of the Board known as "Audit Committee"
which means it is not applicable for private Co. regarding your second doubt ,generally many section which are applicable to pvt. co. which are subsidiaries of public co. section specificaly mentions regarding such applicability but as this section does not specificaly mention this ,we can assume that it is not applicable to private companies which are subsidiaries of public companies
CS Arpita Rajpurohit
(Company Secretary)
(1111 Points)
Replied 02 March 2009
its is applicable to all public cos having paid-up capital of not less than five crores of rupees.
not applicable to private co. & pvt . co. which is subsidiary of public co.
HARDIK
(COMPANY SECRETARY NCFM (Corporate Governance ))
(664 Points)
Replied 03 March 2009
| Originally posted by :suchita kothari | ||
| " | hi can anybody tell me that sec 292A is applicable on private co. or not? is it applicable on pvt co. which are subsi of pu. co also? |
" |
hi
i agreee with the answer of arpita
Hardik
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