Comp law

Asha (Querist) 26 September 2012 This query is : Resolved
There are 2 public companies Company A and Company B . X is a director of company A and a shareholder in company B. Shares of Company B are freely transferable. If X transfers its share in company A at a price higher than the value of the share (transfers share of 50 at rs 200 to company A) can this transfer be considered as a loan under section 295.
Its Urgent kindly reply

Follow Query

Report Abuse

Guest (Expert) 27 January 2013
It shall be considered as loan under sec 295 of the act as there is no notice to ROC and declaration to the effect that a and b are subsidiary and holding company under which the share transfer was permissible.

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

Ask Query
Unanswered Queries

Uds sale by flatpromotors
Registered sale agreement
Sale of property agreement not executed
Criminal law
Get back money from a scam through report cyber hunters
Cheque bounce case
Overhead water tank
Wrongfully name removed from pr card
Lost property agreement need non traceable certificate
How i won a million dollars

Vacation judge
Legal notice used for harrasment
Settlement
What is the meaning of possession (legally) of apartment
Is advocate guilty?
Advocate�s duty to justice apply to the pre-litigation ?
Legal opinion on baseless legal notice and law
Dismissals due to defective legal notices
Legal notice content
Validity of legal notice.....