CS MOHIT SALUJA (PRACTICING CS Jalandhar 9914558709) 03 August 2013
A Private Limited Company had an agreement with Foreign Companies in UK and Dubai for purchase of all share and now on this day, these Foreign Companies stand on name of India Private Company as per agreement, in records of ROC of those concerned Countries. But Indian Company has yet not made the payment but is showing as Investment on Asset Side in its Balance Sheet whereas the same amount is shown on Liability Side as Current Liability. Will these Foreign companies be treated as Subsidiaries Company with contrast to Indian Company. Means without payment should Indian Company be treated as Holding Company as in UK and Dubai, the companies shareholder are showing as Indian Company.