Would your answer in the above case differ if instead of land it was shared in a subsidiary com...........

Companies Act-Phase (I & II) Board-powersandMeetings

Would your answer in the above case differ if instead of land it was shared in a subsidiary company and the Director was a nominee thereto,and such holding in Directors’ name was

solely so that the number of members are maintained above Statutory limits

Yes, as the same is explicitly covered in Companies Act,2013

No, as there is no specific distinction made

Yes, as there is no specific distinction made

No, as the same is explicitly covered in Companies Act,2013

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Explanation:

According to Sec187. Investments of company to be held in its own name

(1) All investments made or held by a company in any property, security or other asset shall be made and held by it in its own name:

Provided that the company may hold any shares in its subsidiary company in the name of any nominee or nominees of the company, if it is necessary to do so, to ensure that the number of members of the subsidiary company is not reduced below the statutory limit.