If co. A acquires 51% shares of co. B and
co. B holds power to appoint or remove it's majority directors, then what will be their relationship
and is their any section prohibiting the same
As per Section 2(87) of the Companies Act 2013, Subsidiary Company in relation to the another Company means a Company in which the holding Company :
Controls the Composition of Board of Directors.
Power to control or change the majority of Board of Directors vest with the Holding Company.
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