True or false
Suresh Pai S (Tax Consultant) (1029 Points)
28 March 2017a)True
b)False.
2)In the case of wholly owned subsidiaries, the whole shares of one company can be purchased by another company.
a)true
b) false
Suresh Pai S (Tax Consultant) (1029 Points)
28 March 2017
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 04 April 2017
Originally posted by : Suresh Pai S | ||
![]() |
1)For forming a private limited company, atleast two shareholders are needed.a)Trueb)False.2)In the case of wholly owned subsidiaries, the whole shares of one company can be purchased by another company.a)trueb) false | ![]() |
Both statements are True, But in cae of second one the nominee of the Company will hold 1 share to qualify the condition of two shareholders as mentioned by you at point no. 1.
Vandana J Doshi
(Practising Company Secretary)
(12562 Points)
Replied 05 April 2017
Both statements are true....But in second case, a nominee of the purchasing company will be required to hold atleast 1 share to satisfy the criteria of 2 shareholders....Beneficial interest declaration is to be given by the nominee and the purchasing company.
Master GSTR-9 and 9C with India's First Unique Live Course with Live practical training
LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(without recording)