Acquisition of 100% shares of public ltd. unlisted co.

Mitali Agarwal (Company Secretary) (638 Points)

25 January 2013  

Dear Friends,

 
I had a following query-
 
A Ltd. (public unlisted co ) wishes to acquire 100% shares of B Ltd. (unlisted co.).
 
Kindly confirm that -
 
1- whether A Ltd. can acquire 100% shares of B Ltd. or there have to be min. 7 members of B Ltd.?
 
2- whether the main objects of B Ltd. (proposed 100% subsidiary of A Ltd.) have to be commensurate with the objects of A Ltd.? 
 
3- whether the said acquisition can take place by just transfer of shares by individual shareholders of B Ltd. in favour of A Ltd. and no other formalities required?
 
 
Thanks & Regards,
Mitali Agarwal