Subsidiary and holding company
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 August 2014
I WOULD LIKE TO KNOW WHETHER THE HOLDING COMPANY CAN KEEP ITS ASSETS AS GUARANTEE WHILE TAKING LOAN FOR ITS SUBSIDIARY COMPANY?
04 August 2014
Yes, if it is a fully owned company then no requirement needed, but if it is not, then i believe it has to take the approval of Minority interest aswell.
Message likes :
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Querist : Anonymous
Querist :
Anonymous
(Querist)
04 August 2014
BUT IF THE LOAN WAS TAKEN BEFORE THE AMENDMENT OF THE COMPANIES ACT 1956 AND AT THAT TIME THE HOLDING C0MPANY HAD 100 % STAKE IN THE SUBSIDIARY COMPANY, HOWEVER AFTER THE AMENDMENT OF THE ACT THE HOLDING COMPANY'S STAKE CONSEQUENTLY REDUCED TO 60%(DUE TO INCLUSION OF PREFERENCE SHARES IN CALCULATION OF HOLDING COMPANY'S STAKE IN SUBSIDIARY COMPANY ), THEN WHAT SHOULD THE HOLDING COMPANY DO NOW?
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