Tuesday, July 15, 2008

Companies Act_Practical Problems_17

Mr. A is a qualified company secretary. He is an employee of X Ltd a public company having paid-up share capital of Rs. 8 crores. Can Mr. A function as a company secretary of a subsidiary of X Ltd, while remaining on the rolls of X Ltd or should Mr. A be in the employment of the subsidiary in order to ensure compliance with section 383A of the Companies Act 1956?

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