Dear Members
This Query is pertaining to Section 187 C, and reference to Section 45 ( on reduction of legal Minimum Number of members less than 2 ). If number of members reduces less than 2, then its a violation of companies act 1956, where company cannot run with a Single Member.
In this context, your views required for the following
XYZ Private Limited, a Holding Company holding 999998 Shares ( Total -10,00,000 Shares) in ABC Pvt Limited.
XYZ pvt ltd are beneficial owners, and Mr. D & Mr. E are given 1 Share each to hold as Nominees on behalf of XYZ Pvt Ltd in ABC Pvt Ltd.
Also Mr. D & E are directors of ABC Pvt Ltd.
Though the number of members as per Statutory register will be 3, reference to interpretation of provisions of companies act 1956 , will this be considered as Single Shareholding of XYZ Pvt Ltd ?? as Mr.D & Mr.E are nominees of XYZ Company.
Please clarify on the same.
regards
Santosh Shah
CAclubindia
