TMI BlogInvestments of company to be held in its own name.X X X X Extracts X X X X X X X X Extracts X X X X ..... r dispose of them. (2) Where the company has a right to appoint any person or persons, or where any nominee or nominees of the company has or have been appointed, as a director or directors of any other body corporate, shares in such other body corporate to an amount not exceeding the nominal value of the qualification shares which are required to be held by a director thereof, may be registered or held by such company jointly in the names of itself and of each such person or nominee or in the name of each such person or nominee [2] [* * *]. (3) A company may hold any shares in its subsidiary in the name or names of any nominee or nominees of the company, if and in so far as it is necessary so to do, to ensure that the number of memb ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on undertaken by it; [4] [5] [ (c) from holding investments in the name of a depository when such investment are in the form of securities held by the company as a beneficial owner.] (6) The certificate or letter of allotment relating to the shares or securities in which investments have been made by a company shall, except in the cases referred to in sub-sections (4) and (5), be in the custody of such company or [6] [with the State Bank of India or a Scheduled Bank], being the bankers of the company. (7) Where, in pursuance of sub-section (2), (3), (4) or (5), any shares or securities in which investments have been made, by a company are not held by it in its own name, the company shall forthwith enter in a register main ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3] Inserted by the Companies (Amendment) Act, 1960, Act 65 of 1960, section 15. [4] Word "or" should be inserted here. [5] Inserted by the Depositories Act, 1996, w.r.e.f. 20-9-1995. [6] Substituted for "with a Scheduled Bank" by Companies (Amendment) Act, 1960, 65 of 1960, section 15, [7] Substituted for "five thousand rupees" by the Companies (Amendment) Act, 2000, w.e.f. 13-12-2000. [8] Substituted for "Company Law Board" by the Companies (Second Amendment) Act, 2002, w.e.f. a date yet to be notified. Earlier the quoted words were substituted for Court by the Companies (Amendment) Act, 1988, w.e.f. 31-5-1991. [9] Fees prescribed is Rs. 100, w.e.f. 1-4-2000. On notification of the commencement of the amendment, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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