ACS_RR (Service) (58 Points)
05 June 2009If A Limited Company has a subsidiary B Pvt Ltd and B Pvt Ltd has a subsidiary C Pvt Ltd....then does that C pvt Ltd become a deemed public limited Comapny under section 3(iv)(c) of the Act?
If yes, then does it have to obtain a certificate of Commencement of business and what are the forms required to be filed for the same.
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 05 June 2009
ACS_RR
(Service)
(58 Points)
Replied 05 June 2009
Sir, I want to ask further that will the Concept of Statutory Meeting be applicable to the same as Bhandari says that this concept is applicable to every private Company which is a subsidiary of a public limited company.
Then is it given only for direct subsidiary or even for indirect subsidiaries.
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 05 June 2009
Best Regards
Manmohan ACA, CS
(Chartered Accountant )
(14243 Points)
Replied 05 June 2009
Totally agree with Ankit
Kunal
(Service)
(65 Points)
Replied 27 August 2010
If a pvt ltd company is a subsidiary of a public company, can it affix "PVT LTD" to its name ? Any return to be filed with ROC ? Can it have 2 directors, shareholders and a capital of 1 lakh ?
Ajay Mishra
(Company Secretary)
(74337 Points)
Replied 27 August 2010
Dear Friend
Ad per Department Clarification, the provision of section 149 and 165 of the Companies Act, 1956 relating to Certificate of Commencement of Business and the Statutory Meeting would not be applicable to a private company which has converted itself in to Public Company. (Department’s File No. 44/50-CLIV/62)
Regards
CS Ajay Mishra
vivek
(CS)
(751 Points)
Replied 27 August 2010
| Originally posted by : kunal | ||
 |
If a pvt ltd company is a subsidiary of a public company, can it affix "PVT LTD" to its name ? Any return to be filed with ROC ? Can it have 2 directors, shareholders and a capital of 1 lakh ? |
 |
Sir,
Nitin Vasavada
(CA)
(48 Points)
Replied 23 January 2011
Friends,
Check section 3 in Companies Act on MCA website https://mca.gov.in/Ministry/actsbills/pdf/Companies_Act_1956_Part_1.pdf. There is no section 3(1)(iv)(c) at all !!! There is only 3(1)(iv) and it says "public company" means a company which is not a private company. Is this not supposed to be the latest being on MCA website?
shweta shah
(nil)
(57 Points)
Replied 03 May 2012
As per the provisions of Companies Act, 1956 a private limited company which is a subsidiary of a public company is deemed to be a public company, so is the criteria of minimum 7 members as in for a public company applicable to that subsidiary company which is a private company ? plese guide me on this query......
Priya
(Company Secretary)
(22 Points)
Replied 28 September 2013
The Company Law Board (CLB) in Hillcrest Realty Sdn.Bhd vs Hotel Queenroad (P) Ltd [(2006) 72 CLA 245 CLB] held that the basic characteristics of a private company do not get altered by the mere fact that such a company is a subsidiary of a public company.
RAJESH
(Company Secretary)
(21 Points)
Replied 03 March 2014
There is one Corporation which is fully owned by the State Government and it has been classifed as Private company but in the CIN the word "PVT" does not araise only "SGC" is available.
So, please clarify on can state government owned company/corporation will become private?
CAclubindia
