TaxTMI 
TaxTMI 
Investments of company to be held in its own name.
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....ll investments made by a company on its own behalf shall be made and held by it in its own name; and (b) where any such investments are not so held at the commencement of this Act the company shall, within a period of one year from such commencement, either cause them to be transferred to, and hold them in, its own name, or dispose of them. (2) Where the company has a right to appoint any perso....
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....) Sub-section (1) shall not apply to investments made by a company whose principal business consists of the buying and selling of shares or securities. (5) Nothing in this section shall be deemed to prevent a company (a) from depositing with a bank, being the bankers of the company, any shares or securities for the collection of any dividend or interest payable thereon; or [3][ (aa) from depos....
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...., any person any shares or securities, by way of security for the repayment of any loan advanced to the company or the performance of any obligation undertaken by it;[4] [5][ (c) from holding investments in the name of a depository when such investment are in the form of securities held by the company as a beneficial owner.] (6) The certificate or letter of allotment relating to the shares or se....
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....of any member or debenture holder of the company without charge, during business hours, subject to such reasonable restrictions as the company may, by its articles or in general meeting, impose, so that not less than two hours in each day are allowed for inspection. (9) If default is made in complying with any of the requirements of sub-sections (1) to (8), the company, and every officer of the c....