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. N: 01/ 13/2013 -CL-V

Government of India

Ministry of Corporate Affairs

‘A' Wing, 5^th 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 theCompanies Act, 2013.

2. This issues with approval of Competent Authority.

Yours faithfully,

(KMS Narayanan)

Asstt. Director

23387263

Copy to:

1. PPS to Secretary

2. PPS to Addl. Secretary

3. PS to JS(M)/ PS to JS(B)/ PPS to JS(SP)

4. Dir(AK) / Dir(AB) / Dir(NC)/ Dir(PS)