23 November 2013
Whether it's mandatory to file Form 25C in case of appointment of MD in a Pvt. Co. having paid up capital of Rs2.00 crs. To eloborate the case -:
Com. A - a joint venture of B & C co., where B holds 51% share & C holds 49% shares. Thus a Subsidiary of Co. B where, Com B- is a State govt. co.(formed as Pvt. ltd)
Com C- is Pub. co
Now, as per the terms of JV, co. C will nominate one of Director as MD of JV.
Accordingly, Co. C nominated one of its Director as MD.So, pl. suggest regarding filing of Form 25 C OR it's not required.
CAclubindia
