Corporate law

Sarangi Venkat (Querist) 22 June 2012 This query is : Resolved
A Private Limited Company ( say ABC Pvt Ltd) is having two shareholders:

1. A foreign company holding 99% shares

2.An Indian Company( say XYZ Pvt Ltd) whose entire share capital is is held by twp foreign companies.- holding the balance 1% shares.

Then, can it be said that ABC Pvt Ltd is a wholly owned subsidiary of a public company?

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Raj Kumar Makkad (Expert) 22 June 2012
No. It cannot be designated as a wholly owned subsidiary of a public company in the light of given facts.

Shonee Kapoor (Expert) 22 June 2012
No it is not fully owned subsidiary. It is an independent company.

Regards,

Shonee Kapoor
harassed.by.498a@gmail.com

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