Subsidiaries Unshelled
A newly notified rule capping layers on subsidiary companies is a step towards delivering 'swachh corporate structure abhiyaan'.
Pursuing the mission of cracking down on shell companies and curbing money laundering, on September 20, 2017, the Government of India Ministry of Corporate Affairs policy division has notified the 'Companies (Restriction on number of layers) Rules, 2017' which restricts the number of subsidiaries for holding companies. The move will bring in major ramifications in Indian corporate
