shashank (CA-FINAL Student) (95 Points)
16 February 2011X.pvt.ltd is a 100 % subsidary of Y international Inc. This means that all the shares of x pvt.ltd are held by Y Int Inc. But as per Companies Act, a company should have minimum 2 members. when Y Inc is 100 % holding, where does the second share holder come from ? Please answer this question.
Thank you.
Jaideep
(Service)
(1368 Points)
Replied 17 February 2011
Second shareholder can be nominee shareholder or we can show one share held by some director on behalf of Y Int Inc.
Regards
cs ashwini kumar
(Company Secretary in Practice)
(173 Points)
Replied 17 February 2011
Hi,
Please refer Section 49(3) of the Companies Act, 1956 in this regard and accordingly to comply with the provisions of such section, one share may be held in the name of nominee. Further, in such a case compliance of provisions of section 187(c) is also required i.e. filing of e-form 22B.
Thanks
CS Ashwini Kumar
shashank
(CA-FINAL Student)
(95 Points)
Replied 17 February 2011
Thanks a lot Jaideep and Mr.Ashwini Kumar. Your answers have definitely clarified my doubt.
Live class on PF & ESI Enrollment & Returns Filing(with recording)
CAclubindia
