CA Ketan Waghela (Partner at Elite Educare) (356 Points)
12 December 2011
If holding company is amalgamated into subsidiary company (subsidiary company is taking over holding company), what is the treatment for the shares held by holding company of subsidiary?? Can it be cancelled or adjusted against capital reserve??? Given Inter company is to be cancelled as per court order.
Shubham Mishra
(Dy. Manager)
(51 Points)
Replied 13 December 2011
Dear Ketan,
With the scheme of amalgamation & court order it can be cancel
CA Ketan Waghela
(Partner at Elite Educare)
(356 Points)
Replied 13 December 2011
Thank you Mishra ji,
But does it require special resolution for decrease in share capital or court order provides the reasonable base ??
CAclubindia
