The memorandum of a company contains investment activity as its main object. The company has diversified into other activities but continues to do business activities of investment in shares and securities. However, ther
CS Professional · Advanced Company Law and Practice · PYQS · June 2014
The memorandum of a company contains investment activity as its main object. The company has diversified into other activities but continues to do business activities of investment in shares and securities. However, there is substantial reduction in its investment in shares and securities. With reference to section 372A, can the company continue to be regarded as investment company? Is income from business an important criterion here? Discuss with reference to relevant case law.
Topics: Investment Company
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