harsh mittal (student) (40 Points)
28 September 2010AB pvt ltd is a subsidiary comapny of a foreign company and foreign company holds 75% shares of AB pvt ltd. My queries are as follows:
1)Will AB pvt ltd be deemed as public co. for applicability of provisions? Will it be treated as pvt co. or public co.
2) Any change if foreign company holds 100% shares in AB pvt ltd
Mitali Agarwal
(Company Secretary)
(638 Points)
Replied 29 September 2010
1) The company shall be treated as if it is a subsidiary company of an Indian public company.
2) Still there is a confusion regarding treatment of an Indian pvt. company, whose 100% holding is with a foreign company.
U may refer the clarification of Section 4 in Ramaiya.
CAclubindia
