The definition of a subsidiary company involves the concept of control by a holding company over the composition of the board of directors or the share capital of the subsidiary. Since an OPC can only have one individual subway surfers owner, it cannot meet the criteria of being controlled by another company.
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Whether the concept of Alternate Director also applicable in case of Foreign Director as he is already residing outside India ?
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In case of appointment of Alternate Director, whether the Master Data of the Company reflects the Original Director too ?
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In what circumstances, special notice is required for the appointment of person other than the retiring auditor ?
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What is the offer period of private placement offer cum application letter in case shares are issued on private placement basis ?
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Is it possible to file the Unaudited Financial Statements of a Company, if yes, whether there is any option to file the Audited Financial Statements after filing of Unaudited Financials ?
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If an individual does not hold majority stake in the member company of the reporting company, whether filing of BEN-2 is applicable or not?
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Are there any restrictions or limitations on the number of foreign directors in an Indian Company ?
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Whether, any assets or liabilities for Indian party (i.e. domestic assets and liabilities) are to be included in the FLA return?
No, as per the Companies Act, 2013, a One Person Company (OPC) cannot be formed as a subsidiary of any company. OPC is a separate legal entity that can only be formed by a single individual, and it cannot have any subsidiary or associate company.
As per Section 2(87) of the Companies Act, 2013, a subsidiary company means a company in which the holding company controls the composition of the Board of Directors or exercises or controls more than one-half of the total share capital either at its own or together with one or more of its subsidiary companies. Since an OPC can only be owned by a single individual, it cannot meet the definition of a subsidiary company.
Therefore, a company cannot form an OPC as its subsidiary as it is not permissible under the Companies Act, 2013. However, a company can form a Private Limited Company or a Limited Company as its subsidiary in accordance with the provisions of the Act.