Dear All,
As defined in Section 2(85) of the Companies Act, 2013, the criteria of Small Company is not applicable to the company which is a subsidiary of another company.
In Our case Company B (small Company) is a 100% subsidiary of Company A and hence we have to file Form MGT-7 for Company B. But The Form MGT-7 shows prefill error message as "Company is small Company, please file MGT-7A"
We Can not file Form MGT-7A for Company B, because it will not allow us to fill up Holding Company details in Form MGT-7A.
We also raised ticket about this Error on MCA, on which we received the following reply
"As per our database , your company is a small company .Hence please file MGT-7A."
Please help to solve this problem.
Dear All,
In case of a wholly owned subsidiary, the holding company holds 99.9% shares. The rest 0.1% shares is held by an individual as a nominee of the holding company. Is it required to obtain MGT4 and MGT5 in this case?
Request you to share your views on this.
Dear Members,
What are the additional approval required from RBI for newly Incorporated Hongkong Subsidiary in India.
india
subsidiary
hongkong
Hello Members,
For WOS Company incorporation there is one director who has citizenship of US and living in India for last 9+ years and he has Pan Card also ,so do he need to submit any additional documents or he will be counted as Indian Citizen and counted on board as Indian Director ?
company
subsidiary
owned
wholly
query
Dear All
Should authorised person of foreign holding be Indian?
india
subsidiary
foreign
Dear All
In case of foreign body corporate who has a Nominee. The Nominee will be director in subsidiary.
Nominee is having DIN what documents need to be attached in case having DIN for foreign body corporate's Nominee
Please inform as it is urgent.
subsidiary
foreign
incorporation
Dear All
In case of name reservation application SPICe Part A only does proposed company have to attach No objection for using name of Holding company incorporated outside India
india
subsidiary
foreign
incorporation
Dear Members,
Is it required to get valuation report from CA for incorporation of new foreign subsidiary for FC-GPR purpose. My view its not required, pls share any supportive link for RBI circular in this regard.
Thanks,
subsidiary
foreign
incorporation
report
valuation
Dear Members,
Whether Board Resolution for Loan by Public Limited Company to its Wholly Owned Subsidiary Company is required to be filed in Form MGT-14 under Section 179 read with Section 117 of Companies Act, 2013?
subsidiary
owned
wholly
loan
query
Proviso to clause 87 of Section 2 of companies act says the following:-
Provided that such class or classes of holding companies as may be prescribed shall not have layers of subsidiaries beyond such numbers as may be prescribed.
Now as per The Companies (Restriction on Number of Layers) Rules, 2017
Restriction on number of layers for certain classes of holding companies it carves out an exception which is as follows:
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
Now my query is can we float/incorporate a company outside India and that company can have more than 2 layers of subsidiary as per laws of that country.
since the rules specifically uses the word "Acquire" so can we incorporate a subsidiary company outside India also and can have more than 2 layers of subsidiary as per laws of that country is that allowed or not.
issue
company
subsidiary
Dear Members
Can Subsidiary - Issue of Preference shares/Debentures which is convertible in to shares of holding company ?
if yes any one has reference to legal provisions or any company had done such issue in past
shares
holding
company
convertible
which
preference
sharesdebentures
subsidiary
issue
Hello,
Can a subsidiary pvt. co. provide loan to its holding co. which is a listed entity?
Given that the borrower does not fall under "any person in whom any of the director of the company is interested" as per sec 185.
what other provisions to be looked at?
subsidiary
company
holding
loan
