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Wholly owned subsidiary

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(Querist)
23 May 2015 How to make a wholly owned subsidiary under Companies Act 2013. Which section governs it? How to fulfill the condition of minimum shareholding of two members in subsidiary company?
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Pratik Shah

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Pratik Shah (Expert)
26 May 2015 Wholly owed subsidiary means a company whose entire shareholding is held by a single entity/company.

Companies Act has not mentioned the definition of 'Wholly owned Subsidiary'.

In practical sense, whenever you want to incorporate a WOS, out of total shares, one share should be held by any other person as a nominee of the holding company. The beneficial ownership of this single share is with holding company.
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