Private limited company which is subsidiary of public co
This query is : Resolved
27 May 2009
Dear Sir,
Definition of public limited company includes private limited company which is subsidiary of public limited co.
My question is wherever in the act public limited company is mentioned, so it should also apply to this type of private limited company also.
Suppose, it is said that section 372 A applies to public co. Does it also apply to a private limited company which is subsidiary of public limited co. also.
Please reply ASAP
Regards
Definition of public limited company includes private limited company which is subsidiary of public limited co.
My question is wherever in the act public limited company is mentioned, so it should also apply to this type of private limited company also.
Suppose, it is said that section 372 A applies to public co. Does it also apply to a private limited company which is subsidiary of public limited co. also.
Please reply ASAP
Regards
Jagruti (CS)
(Expert)
27 May 2009
Yes. Defination of public company itself provide that private limited company which is subsidiary of public limited co is a public company. Hence in act where ever public co is used aboe criteria is deemed to be included if not specifically stated. But u may find in some section it is mentioned seperately like sec. 269, 293..
Ankur Garg
(Expert)
27 May 2009
Agree with answer above.
Section-81 is also not applicable to pvt. co. as excluded by the act itself.
Section-81 is also not applicable to pvt. co. as excluded by the act itself.
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