Query on Public Ltd company

This query is : Resolved

CA Ysil Karunai (Querist)
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14 February 2011 Dear sir,
Please consider the following issue and clarify.
A Public Ltd Company which is a 100% subsidiary of Private Ltd Company!
Query:
1. How many members & Share holders should be in Public Ltd Company, Whether 7 or 2. If 7, then how can it became 100% Subsidiary of Private Ltd Company?
2. Similary how many Directors?

Sunil Kr. Sanganeria

Sunil Kr. Sanganeria (Expert)
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14 February 2011 There must be seven sharehlders in a Public Limited Company and minimum no of irectors should be three.

to form a100% subsidiary company, you have to comply section 187c of the Act and file the necessary fornm to Registrar of Company.

CA Ysil Karunai

CA Ysil Karunai (Querist)
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14 February 2011 Thanks a lot sir,
But i am still not clear. Please explain little briefly

CA Ysil Karunai

CA Ysil Karunai (Querist)
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14 February 2011 Thanks a lot sir,
But i am still not clear. Please explain little briefly

Sunil Kr. Sanganeria

Sunil Kr. Sanganeria (Expert)
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14 February 2011 You have to allott/transfer shares in the name of seven different person and the money for all the persons will be paid by the Company.These person will hold the shares on behalf of the Company and does not have beneficial interest in the shares.

For PROFORMA OF NECESSARY FORM TO BE FILED TO ROC please see "THE COMPANIES (DECLARATION) OF BENEFICIAL INTEREST IN SHARES) RULES, 1975."