Subsuduary of Public Company
This query is : Resolved
Jagruti Shah
(Querist)
14 September 2009
A private company becoming subsidiary of Public Company is a public company as per definition of Public Company.
Please advice as to the steps to be taken and also whether it can continue the restiction of a pvt company in its articles.
please give relevant caluse reference and citations to have presentation before the management.
its very urgent
Please advice as to the steps to be taken and also whether it can continue the restiction of a pvt company in its articles.
please give relevant caluse reference and citations to have presentation before the management.
its very urgent
Ankur Garg
(Expert)
14 September 2009
Hi,
A private company remain a private company (status wise) even if it becomes a subsidiary of a public company.
No need to change anything and all the restriction of a pvt. co shall continue to apply on such pvt. co.
However certain restrictions of law which are applicable only to a public company are also applicable to such pvt. co.
Regards
A private company remain a private company (status wise) even if it becomes a subsidiary of a public company.
No need to change anything and all the restriction of a pvt. co shall continue to apply on such pvt. co.
However certain restrictions of law which are applicable only to a public company are also applicable to such pvt. co.
Regards
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