There is a Holding Company “H” and there is its wholly owned subsidiary “S”. “H” has nominated “N” to hold one share on its behalf to maintain the requirement of minimum number of shareholders in “S”. Now, “S” wants to come up with a Right Issue. The question is whether the said Right offer should be sent to both H and N (as both are registered shareholders as per ROM) or only to H (as practically, H owns entire equity shareholding). Please also let me know if Department has issued any clarification in this regard.

Section 62- Further issue of share capital.

Posted By: Hardam singh 6 year(s) ago