Nitin Grover (CS) (1228 Points)
09 March 2010Dear Friends
pls tell me if a Public Comany or Public Companies are subsidiary of Private Companies then Private Companies have to fullfill the requirements of Public Company rules as per Companies Act, 1956
just like if Private Co. is Subdi of Pub. Comp.then Private Comp. has to
Pls tell me
Thanks
Nitin Grover
Yogesh Shah
(Managing Corporate Finance)
(1051 Points)
Replied 11 March 2010
Hye Mr. Nitin,
in case of private company which is subsidiary of public company, all provisions of public co. are applicable to it
ref. - Sec. 372A Inter-corporate Loans & Investments etc.
But I am sorry for former question because term 'Public Co. subsidiary of Private Co.' I heard first time.
Nitin Grover
(CS)
(1228 Points)
Replied 11 March 2010
Dear Yogesh
if a pvt is subsi of Public comp then most of sections are applicable not only 372A
and ya dear there is a reverse case.
Regards
Yogesh Shah
(Managing Corporate Finance)
(1051 Points)
Replied 11 March 2010
Mr. Nitin,
I agree with you & I knew it. Thats why I mentiomed 'etc.' after Sec. 372A
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