wholly owned subsidiary
This query is : Resolved
13 November 2007
Can a totally new company with no old balance sheet have a wholly owned subsidiary overseas (Example Indonesia)
13 November 2007
THERE IS NO SUCH RESTRICTION AS TO NEWER OR OLDER COMPANY TO OWN A SUBSIDIARY.
BALANCE SHEET BEING THERE OR NOT IS NO CRITERION.
ONLY THE REGULATORY REGIME OF RBI OR OTHER APPLICABLE STATUTES OF INDIA AS WELL AS ABROAD IF ANY TO BE COMPLIED TO OWN A SUBSIDIARY ABROAD.
R.V.RAO
BALANCE SHEET BEING THERE OR NOT IS NO CRITERION.
ONLY THE REGULATORY REGIME OF RBI OR OTHER APPLICABLE STATUTES OF INDIA AS WELL AS ABROAD IF ANY TO BE COMPLIED TO OWN A SUBSIDIARY ABROAD.
R.V.RAO
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