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

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..... reholding with parent company outside India ‑ Whether the section operates to make Indian private company a public company Where a small percentage (say less than one) of the shares is held by individuals and the rest by the parent company outside India, section 43A would operate to make the Indian private company a public company. Actually, the section will operate except where t .....

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..... le to public companies. If, in any case, all the directors of a private company, which becomes a public company by virtue of operation of section 43A, become interested directors making it impossible for them to transact business, the remedy would be to increase the strength of the board by appointing disinterested directors or co‑opting or appointing additional disinterested directors, .....

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