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PRACTICAL PROBLEMS ON COMPANIES ACT 2013 Problem - 1 ACE Automobiles Limited is a company engaged in the manufacture of Cars. The company’s investment in the shares of other bodies corporate and the loans made to other bodies corporate exceed 60% per cent of its paid-up share capital, free reserves and securities premium amount and also 100% of its free reserves and securities premium amount. The company has obtained a term loan from the Industrial Credit and Investment Corporation of India Limited. The company proposes to inc