15-Mar-2023 08:01 AM
Sir section 141(3)(d) mein likha hua hai ki agr koi person ya uska relative security or interest hold krta hai company mein toh wo Rs.1000 ki face value tak k security or interest hold kr skta hai but sir rules mein yahi limit Rs. 100,000 di hui hai. Kisko consider kre. Kyuki rules toh act ko kbhi override nhi kr skte toh us hisab se toh 1000 hona chahiye. Ya fir sir yahan par amendment aayi hai ???
As per section 141(3)(d)(i) a person who, or his relative or partner is holding any security of or interest in the company or its subsidiary, or of its holding or associate company or a subsidiary of such holding company. Provided that the relative may hold security or interest in the company of face value not exceeding one thousand rupees or such sum as may be prescribed. So, first of all, as per this provision only relative can hold security or interest in the company. Further, the proviso states that face value not exceeding one thousand rupees or such sum as may be prescribed. i.e amount prescribed in rules. So, consider amount given in rules i.e 1,00,000.
Answer given by Shubhamm Sir at 26-Apr-2023 05:15 PM