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Messages - scm

Pages: [1]
1
Company laws / Re: holding company and subsidiary company
« on: January 08, 2018, 06:39:50 AM »
Thank you so much Sir for your time Sir.
It is correct that X company has not sold land to Y company. But Y company has purchased shares (70 to  100%) of X company. So in a way Y company has purchased X company and has become owner of X company. Now can the Y company construct and sell the units as per their wishes or still they have to do some mutual agreement and need to go as per that agreement.
By the way how much percentage of shares Y must have to proceed independently.
kindly advice.
Tks & regards,
Sami

2
Company laws / holding company and subsidiary company
« on: January 07, 2018, 06:47:46 AM »
Sir,
I need considered advice on the following matter please.

A pvt ltd company "X" was allotted a piece of land by a developing authority of a city with the condition that the land cant be sold further to anyone but residential / commercial units constructed on it can be sold. A limited company "Y" purchased 70 to 100% shares of company "X". Some shares purchased were in the name of company "Y" and some in the name of share holders of company"Y". In the situation, i hope "Y" is a holding company and "X" a subsidiary company. In case company "Y" sells the units and collects money from public and then construct units and deliver, will it be correct in the eyes of law ? Company "X" is also ready to do a development agreement with company "Y" giving the later selling and development rights. kindly advice.
tks & regs

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