2. Restriction on number of layers for certain classes of holding companies.
—(1) On and from the date of commencement of these rules, no company, other than a company belonging to a class specified in sub-rule (2), shall have more than two layers of subsidiaries:
Provided that the provisions of this sub-rule shall not affect a company from acquiring a company incorporated outside India with subsidiaries beyond two layers as per the laws of such country: Provided further that for computing the number of layers under this rule, one layer which consists of one or more wholly owned subsidiary or subsidiaries shall not be taken into account.
Can anyone explain how to determine 2 layers ?
What is meant by ‘two layers of investment companies’ in relation to Section 186 of the Companies Act, 2013?Click here to view / answer Share it on
Please explain in detail everything about the ammended in relation to layers of subsidiary companies. (Including that of investment company, wholly own subsidiary company, foreign company and its subsidiary)Click here to view / answer Share it on
Are the provisions applicable to subsidiaries incorporated outside India ?Click here to view / answer Share it on
As per MCA vide its Notification1dated September 20, 2017 notified the Companies (Restriction on Number of Layers) Rules, 2017, Are the wholly owned subsidiaries even counted in the limits of a layer?Click here to view / answer Share it on
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