promoter of a company

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CS Abhilasha Pandey (Querist)
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05 August 2010 Hi,
I have to form ABC pvt. ltd. co.My question is
1. Can an another pvt.ltd. co. say XYZ Pvt. Ltd. be promoter of ABC pvt. ltd. ?
2. If yes, who will sign on subscribers page of MOA and AOA and whose digital will be attached in Forms?
3. It is our plan to make ABC Pvt. Ltd. a wholly owned subsidiary of XYZ Pvt. Ltd. which will promote it. So at the time of incorporation, is it possible to make XYZ Pvt. Ltd. a promoter of 99.99% in ABC Pvt. Ltd. and one more individual as promoter.
4. Another individual who will be promoter is already director of XYZ Pvt. Ltd. , will it create any problem ?

i want to ask, what is the process to make a company 100 % subsidiary of another company from date of incorporation ?Both the companies are pvt. ltd. co.

Regards,
Abhilasha

Jagruti (CS)

Jagruti (CS) (Expert)
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05 August 2010 1. Yes another Company XYZ can become the Promoter of a new Company

2. Subcriber will be any individual who is authorised by the Board of XYZ to sign the documents.

3. To become wholly owned subcidiary holding company needs to hold 100% shares of the another Company. Hence as u suggested 99 % share will be hold by XYZ and 1 share by director as a nominee to XYZ will not be a problem.

4. There will be no problem if other promoter is already director of XYZ

CS Abhilasha Pandey

CS Abhilasha Pandey (Querist)
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05 August 2010 Thanks alot Jagruti,
I just wanted to ask one more query is it possible to hold 100% shares of ABC Pvt. Ltd. by XYZ Pvt. LTD. at the time of incorporation as a promoter and how ?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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05 August 2010 NO. After incorporation comply the provisions of section 187C of the Companies Act,1956.

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