MCA Clarification w.r.t holding of Shares in a fiduciary capacity by Associate Company

General Circular no. 24/2014, F. No: 01/13/2013 -CL-V, dated 25th June, 2014

Clarification with regard to holding of shares in a fiduciary capacity by associate company under Section 2(6) of the Companies Act, 2013

In continuation of the General circular No. 20/2013 dated 27/12/2013, it is clarified that the shares held by a company in another company in a 'fiduciary capacity' shall not be counted for the purpose of determining the relationship of 'associate company' under section 2(6) of the Companies Act, 2013.

2. This issues with approval of Competent Authority.

.

.

.

.

.

Click here to download the complete text of the above Circular in PDF Format.

Source: Ministry of Corporate Affairs.