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Press note 9 of 1999

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(Querist)
13 August 2008 Dear Member,

Please illustrate what is Indian Holding Company in terms of press note 9 of 1999.

Regards,
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Srinath A. N.

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Srinath A. N. (Expert)
13 August 2008 Holding Company means Holding Company as defined in Section 4 of the Companies Act, 1956. However, for the purpose of FEMA, even holding of 50% equity shares in the other Company, the first mentioned Company will be considered as holding Company.
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