Suppose a Public Company holds 54% shares in a Private Company and majority of Directors in Public Company are also mojority of Director in Private Company. Then can we say there is subsisting holding subsidiary relationship?
CS Kaushik Kundu (Company Secretary) (180 Points)
13 October 2015Suppose a Public Company holds 54% shares in a Private Company and majority of Directors in Public Company are also mojority of Director in Private Company. Then can we say there is subsisting holding subsidiary relationship?
Neha Chhapolia
(Chartered Accountant)
(36 Points)
Replied 14 October 2015
Yes...if a company holds more than 50% of shares of another company, it already cover under definition of holding subsidiary relationship..
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