query regarding legal status

 is there nobody who can answer these questions.

Well I need bit of time to go through certain things. I ll definitely try my level best to answer your query.

As far as holding and subsidiary is concerned in LLP there might be such relationship but I am still not clear about this. Companies Act defines holding and subsidiary relationship based on management control (that is why in sec 4 of companies act controlling composition of board, holding nominal capital etc “control” related parameters are used). Though I have gone through LLP act 2008 there is no holding subsidiary relationship is defined.

Thank You Kushal at least for your support that you will try.

How is a mutual fund set up?

A mutual fund is set up in the form of a trust, which has sponsor, trustees, asset Management Company (AMC) and custodian. The trust is established by a sponsor or more than one sponsor who is like promoter of a company. The trustees of the mutual fund hold its property for the benefit of the unit holders. Asset Management Company (AMC) approved by SEBI manages the funds by making investments in various types of securities. Custodian, who is registered with SEBI, holds the securities of various schemes of the fund in its custody. The trustees are vested with the general power of superintendence and direction over AMC. They monitor the performance and compliance of SEBI Regulations by the mutual fund.

SEBI Regulations require that at least two thirds of the directors of trustee company or board of trustees must be independent i.e. they should not be associated with the sponsors. Also, 50% of the directors of AMC must be independent. All mutual funds are required to be registered with SEBI before they launch any scheme.

Thank U very much Kushal. But may I know that do they have separate legal entity.

Also, please try to answer Q1.

Once again thank you

Hi in my opinion no entity other than company can have holding n subsidiary relationship