Subsidiary company not to hold shares in its holding company
There is no company is not considered as a nominee itself. Where no holding company and the holding company shares and shall assignment to any shares. The subsidiary company transfers its shares in any of its companies. Such assignment the subsidiary company has transfer a company shares .
In this sub-section that has nothing to apply a case
(i)The subsidiary company holds as shares. The company of a departed member of the holding company shares as the legal representatives in a company.
(ii)This company consider such shares as a trustee.
(iii)This company is a shareholder and it became a holding company.
The subsidiary company is specified in the preceding. This previous arrangement has a right to poll at a confrontation. The holding company shares in respect of a legal representative or his trustee. This specified in clause (a) and (b).
In this section refers his shares of a holding company. A company is which limited by guarantee or an unlimited company. The company is not to have their capital share. It shall be defined as mention to the importance of its members. Whatever is to be the form of interest.
Conversion of companies already registered
Under this act an company of any class is registered. It may convert itself as a company of another class. The directive and objects of the company in conformance with arrangements under this act .
Under this section the conversion is required to be done. An application is made by the company of registrar.After the register is satisfied by this provision. It is applied for registration of companies have been compiled with it. After registering the documents with former registration of the company . It is specified in this sub-section (1). A certification of incorporation is issued in the same manner. It is for their first registration of a company.
Under this section of a company registration. It shall not affect any obligations, debts, liabilities or contracts entered into. Before conversion on behalf of the company. Such liabilities, debts, obligations and contracts may be enforced. If such registration had not been done in a company. If the registered office in Chennai. The company proprietor may do their registrations in Chennai.