X pvt ltd is a subsidiary of a listed entity incorporated outside india.caro applicable?

1 answer

Audit Staff June 11, 2018
hmm... it little controversial
CARO just says no to public holding company, it doesn't specify whether domestic or foreign or both.
As per literal interpretation of holding company as per company act 2014 it means only domestic holding company, that is Indian registered public company but
As per reasonable interpretation that we don’t want to exempt private company where public at large can be involved directly or indirectly. so specify both the view.
As on today as there is lack of clarity, i support second view.

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