Sec. 49 - Investment of company not held in its own name and held as qualification shares;

Sec. 49 - Investment of company not held in its own name and held as qualification shares;

"RESOLVED that 500 equity shares of Rs. 10/- each with Nos. 4321 to 4820 of XYZ Company Limited, be jointly held in the name of the Company and Shri. AB, a Director of that company as his qualification shares and the share certificate issued by that company in respect of these shares be kept in the custody of the Secretary of the Company who is instructed to enter the particulars of these shares in the register kept by the company pursuant to the provisions of section 49(7) of the Companies Act, 1956."