https://www.taxtmi.com/acts?id=12235 The section defines a subsidiary as a company controlled by another through board composition, predominant voting power or equity holding, or by transitive subsidiary relationships, and defines holding company as one whose subsidiary relationship exists. It specifies that board control includes appointment or removal powers and nominations, and sets attribution rules: fiduciary holdings are disregarded, nominee and subsidiary-held shares (subject to exceptions) are attributed to the parent, debenture-derived powers are excluded, and security holdings by lenders in ordinary course are not treated as parent-held. Foreign law subsidiary relationships are recognized domestically. en-us Tue, 03 May 2011 17:50:13 +0530 Tue, 03 May 2011 22:43:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=12235 The section defines a subsidiary as a company controlled by another through board composition, predominant voting power or equity holding, or by transitive subsidiary relationships, and defines holding company as one whose subsidiary relationship exists. It specifies that board control includes appointment or removal powers and nominations, and sets attribution rules: fiduciary holdings are disregarded, nominee and subsidiary-held shares (subject to exceptions) are attributed to the parent, debenture-derived powers are excluded, and security holdings by lenders in ordinary course are not treated as parent-held. Foreign law subsidiary relationships are recognized domestically. Act-Rules Companies Law Tue, 03 May 2011 17:50:13 +0530 https://www.taxtmi.com/acts?id=12235