https://www.taxtmi.com/caselaws?id=191052 The Company Law Board concluded that the affairs of a holding company do not include the affairs of its subsidiaries. A shareholder of the holding company cannot seek relief against its subsidiaries without satisfying the requirements of section 399. High Court decisions cited were found not to establish a binding precedent on the issue. The Board clarified the difference between orbiter dicta and ratio decidendi and upheld that a shareholder cannot file a petition against subsidiaries based solely on their shareholding in the holding company. The subsidiaries and their directors were ordered to be removed from the case, and further proceedings were scheduled. en-us Wed, 18 Oct 2000 00:00:00 +0530 Sat, 18 Mar 2017 15:16:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191052 The Company Law Board concluded that the affairs of a holding company do not include the affairs of its subsidiaries. A shareholder of the holding company cannot seek relief against its subsidiaries without satisfying the requirements of section 399. High Court decisions cited were found not to establish a binding precedent on the issue. The Board clarified the difference between orbiter dicta and ratio decidendi and upheld that a shareholder cannot file a petition against subsidiaries based solely on their shareholding in the holding company. The subsidiaries and their directors were ordered to be removed from the case, and further proceedings were scheduled. Case-Laws Companies Law Wed, 18 Oct 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191052