Anusha
asked over 2 years ago
Masons pvt ltd company is a pvt ltd company as per the AOA of the company, However a public company acquired shares in Masons pvt ltd thereby making masons pvt ltd subsidiary of that public ltd company . What will be the impact of such acquisition of shares by a public company on Masons pvt ltd.
Masons pvt ltd company shall be deemed to be public company
megha
answered over 2 years ago
hello, Masons pvt ltd company shall be **deemed to be public company** for the purposes of this Act even where such Masons pvt ltd continues to be a private company in its articles. ********* The deemed public companies are viewed by the law as public companies and are subject to more or less all compliances as are applicable on public companies, even though these companies may be operating as private companies.
Prakhar Bansal
answered over 2 years ago
YOUR COMPANY MAY BE A PRIVATE COMPANY BUT SINCE THE SAME HAS BECOME A SUBSIDIARY OF A PUBLIC COMPANY, IT WOULD BE DEEMED TO BE A PUBLIC COMPANY.
