As on 1st August 2017, A Ltd had three layers of subsidiaries. Discuss: Is there any obligation cast on A Ltd to report to any authority in case it has three layers of subsidiaries?
CS Professional · Corporate Restructuring, Valuation and Insolvency · PYQS · December 2021
As on 1st August 2017, A Ltd had three layers of subsidiaries. Discuss: Is there any obligation cast on A Ltd to report to any authority in case it has three layers of subsidiaries?
Answer & Explanation:
If A Ltd has number of layers of subsidiaries in excess of two layers and is not eligible for exemption under Rule 2(2), it shall file with Registrar of Companies a return in Form CRL-1 within 150 days from 20th September 2017.
Topics: Corporate Restructuring
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