A Company has two directors having 5000 shares each, now the Directors transfer 4999 each from their holding to a Company and it wishes to make the Company a wholly owned subsidiary. What procedure is required for the same? Please reply
Menu
Wholly owned subsidiary
Replies (1)
Option-I:
Transfer remaining 2 shares also in the name of the holding company and take action u/s 187(1) of CA 2013 read with Rule 14 of Companies (Meetings of Board & its Powers) Rules 2014.
Option-II:
Transfer remaining 2 shares in joint names of the holding company as the first holder and someone else as the second holder.
Recent Threads
- Is form 10 IE needed in this case?
- TDS on purchase of property more than 50 lakhs
- Withdrawal from post NSS
- Section 10(11) or 10(12) of exempted income
- New income tax act
- Duplication of Interest on SCSS deposits in postof
- Declaration of foreign investment
- Parent buying property for major child
- LIC maturity amount filing missed
- Advice on income tax
Related Threads
CAclubindia
