372A Register

A Company shall require to maintain register at registered office for this purpose by entering prescribed details within 7 days.

However, As per Ss. (8) nothing contained in this section shall apply to a private company, unless it is a subsidiary of public company.
 

Exemption:
e) To any loan made by holding company to it’s wholly owned subsidiary
f) To any guarantee / security by holding company, in connection with loan made to it’s wholly owned subsidiary company
g) To acquisition by a holding company, by way of subscripttion, purchases or otherwise, the securities of its wholly owned subsidiary.

In between reading of the words, it can be inferred that Investment in other body corporate for the purpose of make that company, a wholly owned subsidiary is not exempted because the exemption is for investment in wholly owned subsidiary. So needless to say that there must be status of wholly owned subsidiary before the proposal of investment in a company.

The exemption is also available for indirect wholly owned subsidiary
The continuation of investments made by the exempted companies, after the exemption ends would not require compliance with S. 372A. Thus, investments made during the period when the company was exempt under this section and remained outstanding after after the cessation of the exemption, would not come within the restrictions contained in S. 372A. (DCA Circular no 13/98/CL-VI/67, dated 24 February 1971.)