Minimum number of members of deemed public company (private company) at the time of incorporation

[Arjun R]

Dear Members,

One of the subscriber to MOA of a pvt company is having shareholding of 99.99% ie held by a public company. 

My query is it necessary to have 7 subscribers to MOA in the case of deemed public company at the time of incorporation or can we incorporate with 2 members?

Any case laws supporting the views would be highly appreciated.

Regards,

Arjun

[Nitin Nagar]

Suppose Company having paid up capital is 100 then give 94 shares to That Private limited Company and rest 6 give to other 6 Shareholders. 

Other 6 Shareholders are deemed to be nominee shareholders and ultimately beneficiary to those shares are private limited company.

This Construed Wholly owned Holding Subsidiary Relationship.

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