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

General Circular no. 24/2014

F. No: 01/13/2013 -CL-V
Government of India
Ministry of Corporate Affairs

`A’ Wing, 5th Floor, Shastri Bhawan Dr. Rajendra Prasad Road, New Delhi-110001

Date: 25.06.2014

To

All Regional Directors,

All Registrars of Companies, All Stakeholders.

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

Sir,

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.

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