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Specify the holding subsidiary relationship between both companies?
If OPC which is Foreign Co., holds about 99% of equity shares in Company which is incorporated under the Companies Act, through FDI, Are they have relationship of holding subsidiary to each other?
Replies (1)
Yes, they have the holding subsidiary relationship.
Section 2(87) defines subsidiary.Section 2(87) also includes body corporate under expression of word "company". And further as per section 2(11) body corporate includes "a company incorporated outside India".
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