Can any1 tell me wat is d meaning of wholly owned subsidiary company?
7 Replies
C.A. Jignesh N. Mehta
(C.A.)
(1030 Points)
Replied 20 June 2011
A Company whose 100% shares are held by another company. For Eg Company A holds 100% shares of Company B then Company B is a wholly owned subsidiary of Company A.
praveen
(Chartered Accountant)
(6971 Points)
Replied 20 June 2011
in a wholly owned subsidiary company the holding company shall have 100% of the shareholding.
Viren
(Chartered Accountant)
(137 Points)
Replied 20 June 2011
Wholly owned subsidiary means 100 % holding i.e All the shares of Subsidiary is held by another co. called as holding Co.
Rajnikant Vadigoppula
(CA, CS And CMA Final)
(919 Points)
Replied 20 June 2011
yes i agree with above views.
M.K.Shakya
(CA Final)
(74 Points)
Replied 28 August 2011
but in a co. there must be at least 2 member so how can a single co. hold all d shares?????
SUNIL KUMAR JAIN
(PRACTISING COMPANY SECRETARY)
(187 Points)
Replied 29 August 2011
Dear Mr. M.K.shakya,
In the given case Holding Company shall hold One share through its nominee in order to meet the requirement of minimum number of members. Please go through the provisions of Section 49 and 187C of the Companies Act,1956.
Regards,
Sunil K Jain
Practising Company Secretary
9810104162, skj13 @ rediffmail.com
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