can any one clarify me on the following query pl...
X – Indian company
Y – wholly owned foreign subsidiary of X
Z – Indian subsidiary of Y
Shareholding of ‘Z’ company:
98 shares – held with ’Y’
2 shares – held with two individuals so far. Now, to be transferred to ‘X’.
If transferred, whether holding 2 shares by ‘X’ comes under section 187(c) – beneficial interest or not.
Whether ‘Z’ has to file Form 22B with ROC in this regard…
CAclubindia
