Deepak (Assistant Manager) (115 Points)
29 May 2014Hi....
a company X has two Directors A and B, both have equal share 50% each. Director A is also Director in company Y which is out of India. Here I dont know how much shares he has in that company.
I want to know that company X is the subsidiary company of Y or not...?
Vandana J Doshi
(Practising Company Secretary)
(12562 Points)
Replied 29 May 2014
Holding-subsidiary relationship exists only on the basis of one company holding more than 50% of other company.....Directors' holding cannot make a company holding or subsidiary to other.....
Hopefully it is clear....
Live Course on Invoice Management System (IMS) - 2nd Batch(With Recording)
CAclubindia
