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Wholly owned subsidiary

27 May 2013

Hi All

Please apprise that incase of making a private ;imited company a wholly owned subsidiary of other private limited company who shall sign the transfer deeds as transferee:

(i) is it the Pvt. Ltd. company which shall sign the deed or

(ii) Pvt company and the nominee who will be holding some 10 shares on behlf of the said pvt company pursuant to section 187C of the Act

Also please apprise whose bname will be endorsed on memorandum of transfer invase of shares held by the Nominee.

Thanks

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1 Replies

P C Agrawal (Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad) (8229 Points)
Replied 27 May 2013

Majority shares can be transferred singly in the name of private company and can be signed by any director on behalf of the company. Nominal shares (say 10 or so) can be transferred jointly in the name of the company (as the first holder) and some individual (as second holder) and can be signed by both.