Subsidiary company -
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 October 2011
"A"COMPANY HOLDS 35% EQUITY CAPITAL IN COMPANY "B".
THREE DIRECTORS OF THE COMPANY "A" ARE DIRECTORS IN COMPANY "B".
WHETHER COMPANY "B" IS SAID TO BE SUBSIDIARY OF COMPANY "A"
PL ENLIGHTEN
THREE DIRECTORS OF THE COMPANY "A" ARE DIRECTORS IN COMPANY "B".
WHETHER COMPANY "B" IS SAID TO BE SUBSIDIARY OF COMPANY "A"
PL ENLIGHTEN
28 October 2011
Company B will be subsidiary of company A ONLY if: -
1) A holds more than 50% of share/Voting right of B
2) A controls Board of Director of B
In your case, 1st condition is not satisfied. You have to look, whether 2nd condition is satisfied or not. If yes then it will be subsidiary, else .. not.
1) A holds more than 50% of share/Voting right of B
2) A controls Board of Director of B
In your case, 1st condition is not satisfied. You have to look, whether 2nd condition is satisfied or not. If yes then it will be subsidiary, else .. not.
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