Fwd: { CS-Hyd} MCA CIRCULAR DATED.27-DEC-13-Clarification on Holding and Subsidiary Companies.

[CS A Rengarajan]

for information  please

regards

---------- Forwarded message ----------
From: SUDHIER KUMAR GUPTHA <sudhirk...@gmail.com>
Date: Fri, Dec 27, 2013 at 3:33 PM
Subject: { CS-Hyd} MCA CIRCULAR DATED.27-DEC-13-Clarification on Holding and Subsidiary Companies.
To: cs-hyd...@googlegroups.com

Dear All,

Fyi.

To

All Registrar of Companies,

All Regional Directors .

 

 

Subject: - Clarification with regard to holding of shares or exercising power in a fiduciary capacity - Holding and Subsidiary relationship under Section2(87) of the Companies Act, 2013.

 

Sir,

 

This Ministry has received a number of representations consequent upon notifying section 2(87) of the Companies Act, 2013 which defines "subsidiary company" or "subsidiary". The stakeholders have requested this Ministry to clarify whether shares held or power exercisable by a company in a 'fiduciary capacity' will be excluded while determining if a particular company is a subsidiary of another company. The stakeholders have further pointed out that in terms of section 4(3) of the Companies Act, 1956, such shares or powers were excluded from the purview of holding-subsidiary relationship.

 

2. The matter has been examined in the Ministry and it is hereby clarified that theshares held by a company or power exercisable by it in another company in a 'fiduciary capacity' shall not be counted for the purpose of determining the holding-subsidiary relationship in terms of the provision of section 2(87) of the Companies Act, 2013.

 

3. This issues with the approval of competent authority.

 

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CS A Rengarajan

9381011200

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[Deepesh Nayak]

Thanks you so much sir.

Sir, kindly also clear that if one company hold shares of an individual in capacity of trustee, in that case this holding will not be considered for the purpose of holding and subsidiary relation.

Are there any examples, excluding trustee position, which can be consider as "Fiduciary Capacity"??

Regards,
Deepesh

Thanking you,

*CS Deepesh Kumar Nayak*
 Company Secretary
 *Mob. 097134-80215*
*csdeepe...@gmail.com*

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