Acquisition of 100% shares of public ltd. unlisted co.

Others 645 views 1 replies

Dear Friends,

 
I had a following query-
 
A Ltd. (public unlisted co ) wishes to acquire 100% shares of B Ltd. (unlisted co.).
 
Kindly confirm that -
 
1- whether A Ltd. can acquire 100% shares of B Ltd. or there have to be min. 7 members of B Ltd.?
 
2- whether the main objects of B Ltd. (proposed 100% subsidiary of A Ltd.) have to be commensurate with the objects of A Ltd.? 
 
3- whether the said acquisition can take place by just transfer of shares by individual shareholders of B Ltd. in favour of A Ltd. and no other formalities required?
 
 
Thanks & Regards,
Mitali Agarwal
Replies (1)

A can acquire 100% shares of B but it must maintain the minimum number of shareholders required.

 

This can be done by transfering some shares to other individuals who will declare that the benficial interest will be held by A Ltd.

This way both requirements will be complied with.


CCI Pro

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