Inter corporate investments In excess of limits Scope of the section clarified and explained

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....ification contained in item 3 under the caption "Clarifications" of the Circular Letter No. 48(50)‑CL‑VI/61, dated 12‑2‑1962 [printed as Clarification 1]. In a recent case a company made investments in the shares of another company without obtaining the approval under section 372 even though by making that investment, total investments made in the shares of all other compa....