100 % subsidiary

MY DEAR ASISH ITS IS POSSIBLE IF 

COMAPNY HOLD ALL SHARES DIRECTLY OR REPRESENTATIVE

SO A COMPANY HOLD A SHARE DIRECTLY AND 6 SHARES HOLD BY ANOTHER 6 PERSON BEHALF OF COMPANY.

ITS INTIMATION HAVE TO BE FILE ROC.

Ok...It means a Company can have its nominee as other 6 shareholders and members to meet the requirement.

definetely other 6 members will hold shares onbehalf of the company

Please find attached herewith my handout on company law and go through the situation on page 21 of handout (Exception-2). Trust this would help you to understand in a different way.

Thanks

Hi

I have a doubt....

What is the process by which a sole proprietorship concern can be succeeded by a company?

Can you tell me the procedures to follow?

Yes in order to maintain a Wholly Owned Subsidiary, the company is requird to obtain all the shares but 6 shares are required to be taken by 6 other persons on behalf of the company to maintain the 7 members limit and to comply with the law.

Thank You Sooooooooo Much Mr.Ankur Garg

@ lucifer

in which angle is ur quest...  under companies act or income tax act

there are certain proc under income tax act also to avoid capital gain tax. kindly clarify

HI Srinath...

It is for income tax planning purpose...

what is the process under companies act....?