In the Companies Act, 1956 there is no ward as ‘Wholly
Owned Subsidiary’ (WOS), WOS means a company of which
entire equity share capital is held by other Company.
For example A company holds entire equity shares of B
Company in this case B Company is WOS of A Company.
Question:
Now the Question is X company has paid up equity share
capital of Rs.50000 (5000 shares each of Rs.10).Out of
which Y company holds 4990 shares in its own name and
remaining 10 shares Y Company holds in its name in 10
different folios (one share in each folio) along with 10
different individuals in the style first name is of Y
limited and second (joint name) of individuals like
A,B , C…… to J.In such case will X limited be deemed to be
a WOS of Y Company ? If yes then how?
After this question one more question will come up related
to this question
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In the Companies Act, 1956 there is no ward as ‘Wholly Owned Subsidiary’ (WOS), WOS means a company of which entire equity share capital is held by other Company. For example A company holds entire equity shares of B Company in this case B Company is WOS of A Company. Question: Now the Question is X company has paid up equity share capital of Rs.50000 (5000 shares each of Rs.10).Out of which Y company holds 4990 shares in its own name and remaining 10 shares Y Company holds in its name in 10 different folios (one share in each folio) along with 10 different individuals in the style first name is of Y limited and second (joint name) of individuals like A,B , C…… to J.In such case will X limited be deemed to be a WOS of Y Company ? If yes then how? After this question one more question will come up related to this question
Whether a Minor can purchase or sell Company Share ? A person presented company share for transfer in his favour but the Transfer Deed accompanied by Company Share is of such date when the person was Minor.Whether the Company accept the Transfer Deed and transfer those shares in his favour.
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