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 | ||
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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.
CAclubindia
