Practising Company Secretary
4432 Points
Joined October 2014
It has to be 100% shareholding. However, as per Companies Act, atleast 7 persons (in case of Public Company) and 2 persons (in case of Pvt Co) are required. In such case, you need to have few shares in other persons name but the benefical ownership shall be in favour of Holding Company.. In this way, that company will become WOS.
Please also refer Section 89 of Companies Act 2013 which mandates for certain declarations for disclosing benefical ownership of shares.