Company Law-1
Company Law-1
Company Law-1
a subsidiary company shall not either by itself or through its nominees hold
shares in its holding company and no holding company shall allot or
transfer its shares to any of its subsidiary companies and any such
allotment or transfer of Shares of a company to its subsidiary company
shall be void.
In this question you have performed well
section 59 of the companies Act, 2013
The company shall not issue secured debentures, unless it complies with the
following conditions, namely:
(a) An issue of secured debentures may be made, provided the date of its redemption
shall not exceed ten years from tie dale of A company engaged in the setting up
of infrastructure projects may secured debentures for a period exceeding ten years but
rot thirty years;
(b) Such an issue of debentures shall be secured by the creationcharge, on the
properties or assets of the company, having a value which is sufficient for the due
repayment of the amount of debentures and interest thereon;
However, in viewof the increased business activities of the company, the said
ceiling of Rupees(.................)has been found to be inadequate. Your directors are
of the opinion that the ceiling of borrowings by the Board be raised to
rupees.Therefore, the proposed resolution for consideration and approvalby the
members of the company. None of the directors is concernedor interested in the
proposed resolution.