Form No. 34B Form Of Application To The Central Government For Purchase By Companies Of Shares Of Other Companies

COMPANIES ACT, 1956

FORM-34B

 Section 372

Under this section a company, with its subsidiaries  shall be entitled to acquire, the shares of any other body corporate by way of subscription or purchase or otherwise whether by itself, or by any individual or association of individuals. The Board of directors of the investing company shall be entitled to invest in any shares of any other body corporate up to such percentage of the subscribed equity share capital, or the aggregate of the paid- up equity and preference share capital, of such other body corporate, whichever is less.

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