student
6 Points
Joined April 2016
Thank you for your replies, but to make u understand the situation, let me take a live example. there are three companies now, say GMR holdings private ltd which holds GMR infrastructure ltd and GMR energy ltd. The GMR holdings is a private company and it s not a subsidiary of any other company, it solely holds the two infra and energy ltd's, which r public companies, (we can check the company status in MCA21 master data) and even the 43A says """that where not less than twenty- five per cent. of the paid- up share capital of a private company having a share capital, is held by one or more bodies cor- porate, the private company shall be deemed public""" but in above case GMR holdings is a private Co. and even the two GMR infra & GMR energy doesn't have any shares in GMR holdings to apply 43A.
and 2(71) just defines the definition of public company, but not Certain elaborate cases where the Private Co. can be deemed to be a Public Co. Can you plz provide any further information.