Meaning of layers as Companies Act, 2013

[mayank joshi]

Dear All Professionals,

If you read Sub Section(1) of Section 186 of companies Act, 2013,
Without prejudice to the provisions contained in this Act, a company shall unless otherwise prescribed, make investment through not more than two layers of investment companies. 

Even Section 2(87) of CA, 2013, meaning of layers - holding Company meaning subsidiary or subsidiaries.

There is no where mentioned about layers in CA, 2013 except in two cases. 
For the purpose of Section 186, what is the meaning of two layers of investment company ?  How we have interpret the same ?

--
With Best Regards,

Mayank Joshi

[Bhavani Prasad]

Clarity need to be given by the ministry on the said issue in the coming days.

CS Bhavani prasad C N,
Company Secretary
GVK Group

---

From: mayank joshi
Sent: ‎04-‎04-‎2014 17:58
To: csmy...@googlegroups.com
Subject: [CSMysore] Meaning of layers as Companies Act, 2013

--
--
************************************************
Mail your comments, feedback and suggestions on CSMysore to Moderator: datta...@gmail.com and Manager: vivekhe...@gmail.com
---
You received this message because you are subscribed to the Google Groups "CSMysore" group.
To unsubscribe from this group and stop receiving emails from it, send an email to csmysore+u...@googlegroups.com.
For more options, visit https://groups.google.com/d/optout.

[mayank joshi]

Thank you very much for your response.  How we need to consider meaning of layers for subsidiary ?

On 4 April 2014 18:10, Bhavani Prasad <cnb...@gmail.com> wrote:

Clarity need to be given by the ministry on the said issue in the coming days.

CS Bhavani prasad C N,
Company Secretary
GVK Group

---

From: mayank joshi
Sent: 04-04-2014 17:58

[csyogan .]

i feel that a company can have a subsidiary, step-subsidiary, and a company under it..

any further companies under the above tree would violate the s.186

further for the prohibition to apply, the aforesaid subsidiary & step subsidiary must be investment companies

contradictory views are welcome.

regards,
yogan.

[gbalajiacs]

Section 186(1) is applicable only in the case of investment companies.

Rgds
G Balaji
Learn to love; Love to learn.

To unsubscribe from this group and stop receiving emails from it, send an email to csmysore+u...@googlegroups.com</