Dear All,
Greetings!!
According to Companies Bill, 2012:
Clause 2(87) “subsidiary company” or “subsidiary”, in relation to any other company
(that is to say the holding company), means a company in which the holding company—
(i) controls the composition of the Board of Directors; or
(ii) exercises or controls more than one-half of the total share capital either at its own or together with one or more of its subsidiary companies
Earlier it was only Equity Share Share Capital.
Now my question is whether the existing preference share holders will be counted for the holding-subsidiary relationship or not?
CAclubindia
