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TMI BlogInvestments of company to be held in its own nameX X X X Extracts X X X X X X X X Extracts X X X X ..... mpany 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. (2) Nothing in this section shall be deemed to prevent a company- (a) from depositing with a bank, being the bankers of the company, any shares or securities for the collection of any dividend or intere ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... from depositing with, or transferring to, any person any shares or securities, by way of security for the repayment of any loan advanced to the company or the performance of any obligation undertaken by it; (d) from holding investments in the name of a depository when such investments are in the form of securities held by the company as a beneficial owner. (3) Where in pursuance of clause (d) o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ated 28-09-2020 before it was read as "(4) If a company contravenes the provisions of this section, the company shall be punishable with fine which shall not be less than twenty-five thousand rupees but which may extend to twenty-five lakh rupees and every officer of the company who is in default shall be punishable with imprisonment for a term which may extend to six months or with fine whi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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