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Clarification with regard to holding of shares in a fiduciary capacity by associate company

General Circular no. 24l2014
F. No: 01/13/2013 -CL-V
Government of India
Mlnistry of Corporate Affairs
'A' Wing, 5th 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 2711212073, 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 the Companies Act, 2013.
2. This issues with approval of Competent Authority.

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