Yash SaxenaYash Saxena asked 3 years ago
1 Answers
RaviRavi Staff answered 3 years ago

First lets see “Same trade name or brand”
Price Waterhouse & Co is audit firm and Price Waterhouse Ltd is consultancy company. On papers they are no where connected with each other. But if Price Waterhouse & Co (Partnership Firm) is auditor entity with same brand name Price Waterhouse Ltd (Company) cannot provide prohibited service.
Now phrase “Parent, Subsidiary & Associate”
We know that partnership firms dont have holding, subsidiary etc still these words are used in context of partnership firm. So parent simply means entity which helped in establishing audit firm like PWC (USA) is for PWC (MUMBAI) & PWC (DELHI) and subsidiary means which are established by audit firm say PWC (Nagpur) is established by PWC(Mumbai) and associate would mean colleagues means PWC (Mumbai) & PWC (Delhi)  

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