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of <h1>Understanding Subsidiary and Holding Companies Under Companies Act, 1956: Key Definitions and Provisions Explained</h1> Under the Companies Act, 1956, a company is considered a subsidiary if another company controls its Board of Directors, holds more than half of its voting power or equity share capital, or if it is a subsidiary of another subsidiary. A holding company is defined as one that has a subsidiary. The Act considers fiduciary holdings and powers, and specifies conditions under which shares or powers are deemed held or exercisable. It includes provisions for foreign-incorporated bodies and private companies that would be public if incorporated in India. The terms 'company' and 'equity share capital' are broadly defined.
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