Formation of subsidiary co.
Querist : Anonymous
Please note that A Limited is a public limited company and to incorporate its subsidiary, you will need to have 7 members as subscribers to the memorandum of B Pvt. Ltd.
Further, you may nominate 6 more persons holding any number of shares "as a nominee of A Limited" to make a wholly owned subsidiary.
regds
Deepak
Querist : Anonymous
Pls advise.
As you said this B Pvt. Ltd. will be incorporated as subsidiary of A Limited, a public limited company, then B Pvt. Ltd. will require 7 members. Sections applicable to a public limited company will also apply to its subsidiary of private limited company and hence you will need to have 7 subscribers.
To make it simple, subscribers can be A Limited and 6 persons, as nominee of A Limited.
regds
Deepak
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