Promoter definition clarification
This query is : Resolved
05 May 2018
AS per section 2(69) of companies act,2013 promoter is a person who has control over the affairs of the company .. If a company is a holding company by virtue of its shareholding ( 51%) OR control of composition of BOD .Then will this company be called as promoter of subsidiary company
05 May 2018
Yes, 2 (69) may be read along with 2(27).
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05 May 2018
Yes it will be called as promoter of subsidiary company by virtue of the following provisions.
(b) who has control over the affairs of the company, directly or indirectly whether as a shareholder, director or otherwise;
(b) who has control over the affairs of the company, directly or indirectly whether as a shareholder, director or otherwise;
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