Procedure for selling the entire shares of a 100% subsidiary of a listed company

[Secretary.R.Ganesan]

Dear All

 

Can any one give me the procedure for disinvestment of the shares of the wholly owned subsidiary Company

The value of the shares of the subsidiary- Face value is only 15 Lakhs and the intrinsic value is 10 Paise per share the net worth is negative

 

Thelisted c ompany holding company is also having a negative networth

Please send the procedure for the disinvestment and a model resolution if any

RGanesan FCS

[Sandeep Kulkarni]

This is a major decision to be taken by the Holding Listed Co.

Lot of info & study of relative & financial conditions require to decide the procedure

Find wether U can do it by Sec:293(1)(a)
Please study Sec.395 of Companies Act.

Also Study SEBI(SAST) Regulations, 2011

Keep the TIME & Stamp duty matters also in concern while deciding.

Thanks & Regards

Sandeep Kulkarni

Asst to PCS,

Corporate & Legal Advisor to President, MD

Association of National Exchanges Members of India

Hyderabad
+91-9491711381

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