Sec 4(7)

This query is : Resolved

sirisha (Querist)
Follow

13 July 2009 Dear All

99% Shares of an Indian Pvt Company are held by a foreign listed public company. The balance 1% shares are held by a foreign individual. But, the beneficial interest is vested with foreign listed public company.
Now, does the Indian pvt co can be considered as subsidiary of public company as per the provisions of Sec 4(7) of the Companies Act, 1956.
Please clarify at the very earliest.

CS Vivek Hegde

CS Vivek Hegde (Expert)
Follow

13 July 2009 Yes Sectin 4(7) is applicable and indian company will be treated as subsidiary of Public Limited.

rgds

Vivek

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Avisha Sinha

Tanishka Khandelwal

venkatesh c

K.Govindarajan

Rasheed Mohd Abdul

Subscribe Now

Sec 4(7)

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANCY

GST CONSULTANT

Article Assistant

CA Final

Accountant