company under same management

ravinder (Querist) 25 July 2011 This query is : Resolved
What is company under same management....in companies Act,1956

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ajay sethi (Expert) 26 July 2011
section 370 of the companies act deals with meaning of companies under same management . in case they share common managing director , or majority of directors are same or 1/3rd of voting power is exercised by same individual or body corporate or majority of shares are held by directoror his relatives in both companies .

in such cases companies would be regarded as under same management