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F ltd., a listed company has applied for and been allotted convertible preference shares in N Private Ltd. F now holds 22% of the aggregate of the paid up equity and convertible preference capital thereby making N an associate company. What are the responsibilities under the Companies Act for both companies. Additionally is there any clause under the listing agreement which F has to comply with? Gopalan

Governance

Posted By: K gopalan 8 year(s) ago

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Shivam Singhal

F Ltd. is required to comply with following provisions:- 1. Mention particulars of N Pvt. Ltd. in the annual return (Form MGT-7) of the F. Ltd. 2. F Ltd. shall also attach along with its financial statement, a separate statement containing the salient features of the financial statement of N Pvt Ltd. in Form AOC-1 (sec 129). 3. Every company shall keep at its registered office a register containing such particulars of its directors and key managerial personnel, which shall include the details of securities held by each of them in the F Ltd. or N Pvt. Ltd. (Sec. 170).

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