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Pvt Co as holding co

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(Querist)
26 June 2009 Friends, if PVt co is a flagship co and it's subsidiaries are ltd. cos in this case can anyone let me know wether provisions of 372A is applicable or not ?
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Ankur Garg

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Ankur Garg (Expert)
26 June 2009 Hi,

If you go by the language of Section 372A(8)(a)(iii) then in your case provisions of Section 372A shall not apply.

However the same is my personal understanding. Views of other experts solicited.

Regards

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