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
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.
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.