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Amendment of section 136

Section 38 - Acts - Finance Act - Section 38 - 38. In section 136 of the principal Act,- (i) in sub-section (1),- (a) the words and figures "Without prejudice to the provisions of section 101," shall be omitted; (b) in the first proviso, fo .....

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to have been duly sent if it is so agreed by members- (a) holding, if the company has a share capital, majority in number entitled to vote and who represent not less than ninety-five per cent. of such part of the paid-up share capital of the company .....

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rds "Provided further", the words, "Provided also" shall be substituted; (d) for the fourth proviso, the following provisos shall be substituted, namely:- 'Provided also that every listed company having a subsidiary or subsidi .....

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re such foreign subsidiary is statutorily required to prepare consolidated financial statement under any law of the country of its incorporation, the requirement of this proviso shall be met if consolidated financial statement of such foreign subsidi .....

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