Deemed Public Company Major shareholding with parent company outside India Whether the section operates to make Indian private company a public company

Deemed Public Company Major shareholding with parent company outside India Whether the section operates to make Indian private company a public company https://www.taxtmi.com/circulars?id=10677 Section 43A makes an Indian private company a deemed public company when a foreign parent holds the major shareholding, regardless of the small percentage held by individuals, except where the foreign body beneficially owns the entire capital despite a nominee's registered share or where an individual's holding equals the share qualification for directorship; such deemed public companies must comply with public company obligations and reorganise membership, and where directors are all interested, the board should be enlarged with disinterested directors or the transaction submitted to the general meeting. en-us Tue, 09 May 1961 00:00:00 +0530 Thu, 16 Jun 2011 11:20:00 +0530 TaxTMI RSS Generator Deemed Public Company Major shareholding with parent company outside India Whether the section operates to make Indian private company a public company https://www.taxtmi.com/circulars?id=10677 Section 43A makes an Indian private company a deemed public company when a foreign parent holds the major shareholding, regardless of the small percentage held by individuals, except where the foreign body beneficially owns the entire capital despite a nominee's registered share or where an individual's holding equals the share qualification for directorship; such deemed public companies must comply with public company obligations and reorganise membership, and where directors are all interested, the board should be enlarged with disinterested directors or the transaction submitted to the general meeting. Circulars Companies Law Tue, 09 May 1961 00:00:00 +0530 https://www.taxtmi.com/circulars?id=10677