According to section 4 of companies act,
a company shall, subject to the provisions of subsection (3), be deemed to be a subsidiary of another if, but only if,-
where the first-mentioned company is any other company, holds more than half in nominal value of its equity share capital;
Now what should we consider as the equity share capital...?? Issued capital, Subscribed capital or paid up cap ?
Hi
It will be considered as more than half of the paid up share capital of the company for taking account a company as subsidiary.
Regards
thanks ajay...n what u said..is it from the Income Tax act...or some interpretation ??
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