What will be status of M/s. DDD Pvt Ltd & M/s. CC Pvt Ltd as Pvt Ltd or Closely Public Held?
Suppose M/s. DDD Pvt Ltd
Shareholder:
A Co. - 51% (Outside India Registered)
B Pvt Ltd Co. - 41% (India Reg)
C Pvt Ltd. Co. - 8% (India Reg)
Thus total 100% Complete
and
C Pvt Ltd has shareholder :
E Co. - 55% (Outside REgistered)
F Pvt Ltd - 45% (Indian REg)
both the private companies will be treated as subsidaries of public limited company for the purpose of the section 4(7).
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