In case of definition of a subsidiary company what is the meaning of "Controls the composition of Board of Directors" To illustrate with an example : A listed company has 10 Directors which includes 3 promoter Directors ,2 Non executive Directors and 5 Independent Directors. Out of the 3 promoter Directors one is MD/CEO of the company and another one is the executive chairman of the company and the third is a woman Director who is the spouse of the MD. If these 3 promoter Directors are the only Directors and hold majority shares in another company , does the later company become a subsidiary of the former listed company??

Section 2 - Definitions

Posted By: V. ramkumar 9 year(s) ago