Holding-Subsidiary structure — restrictions and disclosures
Cannot have layers > 2 of subsidiaries (with exceptions). Subsidiary cannot hold shares in holding company. Mandatory consolidation; intra-group transactions disclosed.
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Special resolution → NCLT confirmation; auditor certificate on accounting treatment; reduce paid-up capital, cancel unpaid capital or return excess to shareholders.
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Private to public: SR + alteration of MoA + AoA; ROC approval. Public to private: SR + NCLT approval (post-2018 amendment) + compliance with min member requirements.
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