A foreign company has formed its wholly owned subsidiary in India (Pvt. company as per cos. Act). However, to comply with the Cos. Act for the requirement of min. two shareholder in pvt. co., foreign company appoints one person under power of attorney to hold one share jointly with foreign company to comply with the companies act and the balance of shares are hold by foreign company in its own name.
Now my query is:
1. Since its a wholly owned subsidiary, is there any requirement to intimate ROC about the same??
2. If yes, than how to intimate??
3. Is section 187 C of companies act, comes into picture??
