15-Mar-2023 08:42 AM
In point d where he himself or his relative- Can hold security upto 1L hai ya 1000 hai coz in book 1000 diya hai & mene bare act me check kiya to vha pr bhi same bt prescribed me 1L so kya likhna hai exam me aur iska kya mtlb hai sir please let us know
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 05:17 PM