Investments under Section 186 of Companies Act
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Raveena Gupta
Apr 15, 2021, 1:28:05 PM4/15/21
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Dear Members,
Is the investment in Axis Dynamic Bond Fund also counted as Security for calculating limit under section 186(2) (c) of the Companies Act, 2013
Also for calculating the limit under section 186 (2) which years paid up share capital and free reserves are considered if the investment is done on 25.02.2021
Raveena Gupta
Apr 16, 2021, 3:11:27 AM4/16/21
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Sanjeev Kumar
Apr 17, 2021, 6:47:15 AM4/17/21
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if you will read section 186 it says
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.
As per my view here the intention of the lawmakers is to cover investment in the form of subscription of shares of other bodycorporate.
mutual fund usually are trust and not body coroportes.
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Best Regards
Sanjeev Kumar
( ACS, LLB (DU), B.Com)
Practicing Company Secretary & Trademark Agent
E-19, DCM Colony
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Delhi - 110084
Mobile no: 9990611550, 7011624756
Ghundiyal Deepen
Apr 20, 2021, 1:43:18 AM4/20/21
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@ Sanjeev Kumar Sir -
Your views on sec. 186 is that investment in Mutual Funds does not serve as Investment into Body Corporates;
My query is before investing in MF, shareholders approval is needed ? since that is not the prime object of the Company.
Thanks and Best Regards,
Deepen Ghundiyal
Company Secretary
Contact - 99232 44813
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Sanjeev Kumar
Apr 21, 2021, 8:35:43 AM4/21/21
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as per my view it only requires board approval and it comes under ancillary other objects of the company
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Ankita Dhabhai
Jul 27, 2021, 6:29:56 AM7/27/21
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If the main object of the company is investment related and the company making investment in mutual funds, then Shareholders approval is needed.
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