Pravin (Associate) (127 Points)
05 March 2011Pls advice on following,
Company A is listed company got a contract for construction for the same SPV (pvt. ltd.) is incorporated which is wholy own subsidary of the A, directors are same, in this situation Sec 297 will apply? as no specific exemption is given for holding subsidary companies.
Regards,
Pravin
nidhigoel89
(Company Secretary )
(594 Points)
Replied 05 March 2011
Hello!
Its true that no specific exemption is given to holing subsidiary co. Bt this sec doesnt apply to two public co. As in ur case one co. is listed and other is its subsidiary which would deemed to be consider as public co. There for sec 297 will nt be applicable in ur case.........
Other's views
Regards
Nidhi
Pravin
(Associate)
(127 Points)
Replied 05 March 2011
Agreed with nidhi, but deemed concept removed as i heard
CAclubindia
