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A first-tier subsidiary is a subsidiary/child company of the ultimate parent company, [note 1] [10] while a second-tier subsidiary is a subsidiary of a first-tier subsidiary: a "grandchild" of the main parent company. [11] Consequently, a third-tier subsidiary is a subsidiary of a second-tier subsidiary—a "great-grandchild" of the main parent ...
A corporate group is composed of companies. The general rule is that a company is a separate legal entity from its shareholders, that is the shareholder's liability for the subsidiary's debts is limited to the value of the shares, [3] and the shareholders cannot be required to perform the company's obligations.
The parent company–subsidiary company relationship is defined by Part 1.2, Division 6, Section 46 of the Corporations Act 2001, which states: [6] A body corporate (in this section called the first body) is a subsidiary of another body corporate if, and only if: (a) the other body: (i) controls the composition of the first body's board; or
A conglomerate usually has a parent company that owns and controls many subsidiaries, which are legally independent but financially and strategically dependent on the parent company. Conglomerates are often large and multinational corporations that have a global presence and a diversified portfolio of products and services.
Protean eGovernance Technologies (earlier known as NSDL e-Governance Infrastructure Limited) was a former subsidiary. [5] It works on Digital Public Infrastructure and Open Source software as well as offers services related to issuance of PAN cards and also acts as central record-keeping agency for National Pension System (NPS).
The company ventured into the floriculture industry in 2009. As of 2016, its subsidiary, Ghodawat Agro, supplies 300,000 flower stems daily. Additionally, the company cultivated a 60-acre ginger farm, along with various exotic herbs and vegetables near Kolhapur.
A wholly owned subsidiary of Bank of Baroda, [22] it is a SEBI-registered investment banking company based in Mumbai, Maharashtra. [23] Its financial services portfolio includes initial public offerings , private placement of debts, corporate restructuring , business valuation, mergers and acquisition, project appraisal , loan syndication ...
Lupin's South African subsidiary, Pharma Dynamics (PD) [35] is the fastest growing and the 4th largest generic company in the South African market (IMS). [ citation needed ] The company is a market leader in the Cardiovascular segment and has a growing presence in Neurology, Gastroenterology and the Over the Counter (OTC) segments.