Sanjayzany (practice) (39 Points)
11 May 2010company A holds 49% shares of company B
Directors and their relatives of B hold 25% in compnay B
Balance sahres hold by compnay C whose 100% shares held by directors and their relatives
My question is whether by the pattern of share holding company B shall be subsidiary company
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 11 May 2010
No Company B is not a subsidiary of any of the parties mentioned above.
Thanks
Rahul Gupta
(Project Controller ACA MBA(Fin.))
(8019 Points)
Replied 11 May 2010
Agreed. B Co. is not subsidiary of any co.
kapil abhishek
(student)
(293 Points)
Replied 11 May 2010
company b is not subsidiary of any company.....
kapil abhishek
(student)
(293 Points)
Replied 11 May 2010
company B is not subsidiary of any company.....
vikash rathi
(Chartered Accountant)
(787 Points)
Replied 11 May 2010
CA.Rajesh Verma
(vermaraajesh39@yahoo.co.in (Dubai))
(97 Points)
Replied 12 May 2010
No Not at all, B is not subsy co.
Reason:
Non of following conditions satified:
1. Must be directly a subsy co ( More than 1/2 of voting power control) or
2. Must be indireclty through another subsy ( more.........). Note here condition is through subsy and not a human being-director or relatives etc.
CA. Rajesh Verma
S/o Sh. Bakshi Ram Verma
CAclubindia
