state gov BSPHCL Junior Accounts Clerk Mock Test 2024 Legal Aspects of Business The Companies Act, 2013
Consider the following statements:
Statement I: Subsidiary company means a company in which the holding company controls the composition of the Board of Directors.
Statement II: Subsidiary company means a company in which the holding company exercises or controls more than one-half of the total share capital either at its own or together with one or more of its subsidiary companies.
1
Statement I is correct and Statement II is incorrect
2
Statement I is incorrect and Statement II is correct
3
Both statements are incorrect
4
Both statements are correct