whether following is subsidiary ?

chandranil S Belvlakar (Querist) 20 November 2009 This query is : Resolved
Dear Experts,

Suppose there is X co of which promoters who are not directors of X company forms a peivate company Y

now this private co Y will it be treated as subsidary of X
as per my knowledge it does not fits in any of the conditions given under section 4 of the Companies Act, if there is any other openion kindly let me know

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