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Subsuduary of Public Company

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Jagruti Shah (Querist)
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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

Ankur Garg

Ankur Garg (Expert)
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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

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