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Tricolour Garments Pvt. Ltd. Co. has 7 directors. In the said company, certain companies such as...

Tricolour Garments Pvt. Ltd. Co. has 7 directors. In the said company, certain companies such as Trilo Fashions have 30% shares and have 4 nominated directors out of 10 directors. Discuss whether there is a nexus between both the companies under Companies Act, 2013

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Answer #1

As per companies act 2013, The company is called holding company if it conrols the board of directors of another company. SInce in the present case, the Trilo fashions has 4 directors in Tricolour Garments Pvt Ltd which has total 7 directors. Thus majority of directors in Tricolour Garments Pvt Ltd are from Trilo fashions, The Trilo fashions is said to be the hodling company and Tricolour Garments Pvt Ltd is subsidiary company as per provisions of Companies Act 2013

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