Legalfundaa

Generally Subsidiary company CANNOT hold a shares of Holding Company. Its now allowed. Section 19 of Companies Act puts some restriction on having shares by subsidiary company. Section 19 also provides for exception in which subsidiary company can hold the shares of Holding company In below circumstances Subsidiary Company can hold the shares of Holding company: When the subsidiary company is the legal representative of deceased member of of the holding company. For example X  Ltd is holding company and Y Ltd is subsidiary company. Y Ltd is also legal heir of Mr. A who is member of X Ltd. After Mr A dies, his shares in X Ltd will pass on to Y Ltd, thus enabling subsidiary company to hold a share of holding company When the subsidiary Company is trustee and the holding company or any of it's subsidiaries is not beneficially interested under trust. In this case subsidiary company holds the share as trustee When subsidiary company had shares in Holding Company even before...

Introduction Here we will discuss different forms of business organization. We will also have a look at advantages and disadvantages of each one of them. We will cover 5 forms of Business Organization Sole Proprietorship Hindu Undivided Family Partnership Firm Company Co-operative society Sole Proprietorship This one is the simplest and oldest form of business organization. Tea Vendor, a Kirana Store, Small Shops are example of this type of business organization. Here individual have exclusive control over business. He may use his own skills and individuals, or may employ few individuals. Few points about Sole Proprietorship This is owned by ONE man/woman/any gender. but only by One person Absolute control over business Liability of Sole Proprietor is unlimited. You may loose your house for repayment! better go for one person company Individual earns all the profits. :) No government regulations to control the sole proprietorship No need for formal r...

FORM No. 56 W ARRANT OF IMPRISONMENT ON FORFEITURE OF BOND FOR GOOD BEHAVIOUR ( See section 446)   To the Superintendent (or Keeper) of the civil jail at _________ WHEREAS _________ (name, description and address) did, on the _________ day of _________, 20 _________, give security by bond in the sum of rupees _________ for the good behaviour of _________ (name, etc., of the principal) and proof of the breach of the said bond has been given before me and duly recorded, whereby the said _________ (name) has forfeited to Government the sum of rupees _________, and whereas he has foiled to pay the said sum or to show cause why the said sum should not be paid although duly called upon to do so, and payment thereof cannot be enforced by attachment of has movable property and an order had been made for the imprisonment of the said _________ (name) in the civil jail for the period of _________ (term of imprisonment) This is to authorise and require you, the Superintendent (or Keep...

FORM No. 55 W ARRANT OF ATTACHMENT AND SALE ON FORFEITURE OF BOND FOR GOOD BEHAVIOUR ( See section 446) To the Police Officer in charge of the police station at _________ WHEREAS _________ (name, description and address) did, on the _________ day of _________ 20 _________ give security by bond in the sum of rupees _________ for the good behaviour of _________ (name etc., of the principal), and proof has been given before me and duly recorded of the commission by the said _________ (name) of the offence of _________ whereby the said bond has been forfeited; and whereas notice has been given to the said _________ (name) calling upon him to show cause why the aid sum should not be paid, and he has failed to do so or to pay the said sum; This is to authorise and requiring you to attach by seizure movable property belonging to the said _________ (name) to the value of rupees _________ which you may find within the district of _________, and if the said sum be not paid within _____...

  FORM No. 54 W ARRANT OF IMPRISONMENT ON BREACH OF A BOND TO KEEP THE PEACE   ( See section 446) To the Superintendent (or Keeper) of the civil jail at _________ WHEREAS proof has been given before me and duly recorded that _________ (name and description).has committed a breach of the bond entered into by him to keep the peace, whereby he has forfeited to Government the sum of rupees _________ and whereas the said _________ (name) has failed to pay the said sum or to show cause why the said sum should not be paid, although duly called upon to do so, and payment thereof cannot be enforced by attachment of his movable property, and an order has been made for the imprisonment of the said _________ (name) in the civil Jail for the period of _________ (term of imprisonment); This is to authorise and require you, the said Superintendent (or Keeper) of the said Civil Jail to receive the said _________ (name) into your custody, together with this warrant, and to keep him sa...

  FORM No. 53 W ARRANT TO ATTACH THE PROPERTY OF THE PRINCIPAL ON BREACH OF A BOND TO KEEP THE PEACE ( See section 446) To _________ (name and designation of the police officer) at the police station of _________ WHEREAS _________ (name and description) did, on the _________ day of _________, 20 _________ enter into a bond for the sum of rupees _________ binding himself not to commit a breach of the peace, etc. (as in the bond), and proof of the forfeiture of the said bond has been given before me and duly recorded; and whereas notice has been given to the said _________ (name) calling upon him to show cause why the said sum should not be paid, and he has failed to do so or to pay the said sum; This is to authorise and require you to attach by seizure movable property belonging to the said _________ (name) to the value of rupees _________, which you may find within the district of _________, and, if the said sum be not paid within _________ to sell the property so attached...

FORM No. 52 N OTICE TO THE PRINCIPAL OF FORFEITURE OF BOND TO KEEP THE PEACE ( See section 446) To _________ (name, description and address) WHEREAS on the _________ day of _________, 20 _________, you entered into a bond not to commit, etc. (as in the bond), and proof of the forfeiture of the same has been given before me and duly recorded; You are hereby called upon to pay the said penalty of rupees _________ or to show cause before me within _________ days why payment of the same should not be enforced against you. Dated, this _________ day of _________, 20 _________ ( Seal of the Court )                                                                 ...