06 January 2011
XYZ company holds 40% shares in PQ Ltd ABC company holds 40% shares in PQ Ltd, and Z Pvt. Ltd. holds 20% shares in PQ Ltd and XYZ company hold 70% shares in ABC and 30% on Z Pvt. Ltd. so PQ ltd. can be consider a subsidiary of XYZ.
07 January 2011
According to me ABC is the subsidiary of XYZ. However ABC holds only 40% shares in PQ Ltd. Hence PQ Ltd. is neither a subsidiary of ABC nor XYZ.
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