Holding-Subsidiary Relationship: The Legal & Regulatory Architecture

[Bharat Vasani is Senior Advisor – Corporate Laws and Miloni Mau an Associate in the General Corporate Practice, both at the Mumbai office of Cyril Amarchand Mangaldas. An earlier version of this post was published on the Cyril Amarchand Mangaldas Blog] As their businesses grow, companies operate through their subsidiaries for various reasons such as flexibility in operation of different units...

Parent’s Duty of Care in Relation to a Subsidiary: India and Beyond

[Radhika Ghosh and Yatin Gaur are 3rd year B.A. L.L.B (Hons.) students at Hidayatullah National Law University in Raipur.] The English Supreme Court has yet again in the recent decision of Okpabi v Royal Dutch Shell considered the question of the jurisdictional challenges associated with claims being brought in England against a UK domiciled parent for the actions of its foreign subsidiary. The...

Managing Significant Transactions & Arrangements with Subsidiaries: Part 2

[Himanshu Dubey and Payal Agarwal are with Vinod Kothari & Co. Part 1 is available here] Basis for assessment – standalone or consolidated? Having dealt with the parameter to be considered for various transactions, another question that may arise is whether the total revenues or expenses or assets or liabilities, as the case may be, have to be considered on a standalone basis or on a...

Managing Significant Transactions & Arrangements with Subsidiaries: Part 1

[Himanshu Dubey and Payal Agarwal are with Vinod Kothari & Co.] The seamless flow of information between a holding company and its subsidiaries is imperative for effective governance at the level of a corporate group. Since listed companies in India often function with complex structures with a number of subsidiaries, it is not feasible for the holding company to deliberate upon all the...

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