section 4 of the companies Act, 1956
This query is : Resolved
13 July 2010
Dear friends
Please answer if a public company acquires 70% shares of a pvt. company, then-
whether the pvt company will need to increse its members and directors to 7 & 3 ?
whether the paid up capital should be increased to Rs. 5 Lac.
Please answer if a public company acquires 70% shares of a pvt. company, then-
whether the pvt company will need to increse its members and directors to 7 & 3 ?
whether the paid up capital should be increased to Rs. 5 Lac.
13 July 2010
no.
But it will be deemed as public ltd Co. hence all the provisions that are applicable to a private ltd. Co will be applicable to this Co, even if the Share Capital and members are not as that of a public ltd.Co.
But it will be deemed as public ltd Co. hence all the provisions that are applicable to a private ltd. Co will be applicable to this Co, even if the Share Capital and members are not as that of a public ltd.Co.
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