MOHIT (STUDENT) 28 September 2010
AB pvt ltd is a subsidiary comapny of a foreign company and foreign company holds 75% shares of AB pvt ltd. My queries are as follows:
1)Will AB pvt ltd be deemed as public co. for applicability of provisions? Will it be treated as pvt co. or public co.
2) Any change if foreign company holds 100% shares in AB pvt ltd
V. VASUDEVAN (LEGAL COUNSEL) 28 September 2010
AB Private Limited will be a private limited Company. However, certain provisions relating to retirement of Director by rotation would be applicable. Also the Balance Sheet & Profit & Loss Account of the AB P Limited
has to be disclosed in the ANnual Report of the parent company.
Arup (UNEMPLOYED) 29 September 2010
1 ) PRIVATE COMPANY. PVT. LTD IS CORRECT.
2) PERHAPS IT IS NOT ALLOWED BY SEBI. I AM NOT SURE VERY MUCH.
LET US SEE WHAT OTHERS REPLY.
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