Jagruti (Pvt.) Ltd. is a private limited company as per the Articles of Association of the company. However, a public company acquired shares in Jagruti (Pvt.) Ltd., thereby making it (Jagruti (Pvt.) Ltd.) a subsidiary of that public company. State the provisions and impact of such acquisition of shares by a public company on Jagruti (Pvt.) Ltd.
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Articles of Association of the company. However, a public company acquired shares in Jagruti (Pvt.) Ltd., thereby making it (Jagruti (Pvt.) Ltd.) a subsidiary of that public company. State the provisions and impact of such acquisition of
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The impact of given acquisition of shares by a public company on Jagruti would be;
When a private company is taken up a public company, or any subsidiary of company, the previous shares will all become public
All provisions related to section 196, 197 and 203 of Companies Act will now be applied to Jagruti
Jagruti company, earlier a private company, will now enjoy the status of public company
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