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of <h1>Fiduciary-held shares don't impact 'associate company' status under Companies Act 2013, Section 2(6), per Circular No. 20/2013.</h1> Shares held by a company in another company in a fiduciary capacity are not considered when determining the relationship of an 'associate company' under section 2(6) of the Companies Act, 2013. This clarification follows the General Circular No. 20/2013 and is issued with the approval of the Competent Authority. The circular is addressed to all Regional Directors, Registrars of Companies, and stakeholders, ensuring compliance with this interpretation of the Act.
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