17 March 2010
is a pvt. co, 51% of whose shares are held by a company incorporated outside india and the remaining 49% is held by another pvt. company incorporated in india, treated as asubsidiary of a public company? Do help.
18 March 2010
In your case, a pvt. Company whose 51% shares are held by a company incorporated outside india, will be treated as subsidiary of Public CO. only if, that body coroprate, if incorporated in India, would be public Company within the meaning of Section 3 of the Companies Act.
Hence you need to check the creteria for Public Company of a outside body corporate.
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