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Amit (ca student) (112 Points)

09 May 2009

What will be the status of the Pvt co. which is holding co. of [Public co.(u/s. 4(7))] ?

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CA SUDIPTA SINHA (Commerce Coaching- Accounts Cost FM) (735 Points)
Replied 10 May 2009

sec 4(7) deals with the status of a pvt co which is a subsidiary of a body corporate incorpporates outside india. for the purpose of this sec the pvt co shall be deemed to be a subsidiary of a public company provided the entire share capital of such co is not held by the that body corporate alone or together with any other body or bodies corporate incorporated outside india.