Debanjan (CS) (25 Points)
14 June 2011
Can Anyone please illaborate on the procedure of making a 99% subsidiary company, a 100% subsidiary company?
Ex:-
X Ltd(Public Company) holds 99% shares in YLtd( Public Company). Y Ltd. has 7 members X Ltd. and 6 others. In this case How X ltd would hold 100% shares in Yltd. with having at least 7 members?
Can a company nominate another person and hold shares in their names u/s 49(3) of the Companies Act, 1956? What is the procedure of nomination and holding the shares?
Manish Mishra
(CS)
(36 Points)
Replied 14 June 2011
You are correct. File 22B for all the other Shareholders. The Final Situation will be X limited will hold 100% shares by itself and through its nominees.
Manish Mishra
(CS)
(36 Points)
Replied 14 June 2011
Apologies a slight correction in my statement above, File 22B for The other 6 shareholders.
You will require to obtain Form I from X Ltd and Form II from all the other 6 shareholders and then file 22B.
Cheers
Debanjan
(CS)
(25 Points)
Replied 20 June 2011
Is FORM I under Beneficial interest rules, an instrument to transfer benneficial interest or declaration of transfer of beneficial interest?
Whether any register is required to be maintained by Y ltd.u/s 49(7) of the Companies Act, 1956 after receiving FORM I or II?
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