What is section mentioning private company which is subsidiary of public company is public company
2 Replies
MOHIT MAHAJAN
(LCS, ACA)
(2050 Points)
Replied 29 May 2010
You will find the reference in Sec 3(1)(iv) i.e. definition of public co.
"public company" means a company which-
(a) is not a private company;
(b) has a minimum paid-up capital of five lakh rupees or such higher paid-up capital, as may be prescribed;
(c) is a private company which is a subsidiary of a company which is not a private company.
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