A Ltd. (public unlisted co ) wishes to acquire 100% shares of B Ltd. (unlisted co.).
Kindly confirm that -
1- whether A Ltd. can acquire 100% shares of B Ltd. or there have to be min. 7 members of B Ltd.?
2- whether the main objects of B Ltd. (proposed 100% subsidiary of A Ltd.) have to be commensurate with the objects of A Ltd.?
3- whether the said acquisition can take place by just transfer of shares by individual shareholders of B Ltd. in favour of A Ltd. and no other formalities required?
CAclubindia
