Sec 42(1) of the companies act,1956
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 September 2013
Sec 42(1) prohibits the subsidiary holding shares in holding company.
What is the logic behind this prohibition?
Thanks
What is the logic behind this prohibition?
Thanks
14 September 2013
To protect the interest of other shareholders. If the subsidiary hold shares of holding company then of more than 51 %, then what will be the status of holding company. It will be more confusing to the status of the holding and subsidiary status.
To protect the status of holding and subsidiary, the section 42(1) has made provision.
To protect the status of holding and subsidiary, the section 42(1) has made provision.
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 September 2013
okay sir. thank u
14 September 2013
My Pleasure..........
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