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Promoter definition clarification

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(Querist)
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
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
05 May 2018 Yes, 2 (69) may be read along with 2(27).
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
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;
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