Shareholding pattern

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Surya Prabha (Querist)
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14 November 2013 Dear Experts,
Company X is subsidiary of Y and it has 2 shareholders Y & Z , Z is also subsidiary of Y. Dividend paid by X goes to Y & Z which ultimately goes to the accounts of Y. Is it legally correct?

Also Z transfers all its share to Y and becomes a nominee shareholder of X.And X now has a single owner that is Y. Is any disclosure or declaration is needed for this?

Ajay Mishra

Ajay Mishra (Expert)
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15 November 2013 No generally the divided is an income of the shareholder who hold the shares of the company. It is immaterial that it is holding or subsidiary of other.

So as per my pint of view no need transfer.

Surya Prabha

Surya Prabha (Querist)
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15 November 2013 Dear Ajay,

I am not concern about holding or subsidiary. My question is if shareholders of the company Y & Z has the same bank account and actually Y & Z are the same.

And if Z transfers all its shares vested in X to Y does it make any difference.

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