The Bank Holding Company Act of 1956 required bank holding companies to refrain from all nonbanking related operations
where we can show bank overdraft in balance sheet
Sidney M. Sussan has written: 'An evaluation of the nonbanking expansion of bank holding companies under the 1970 amendments to the Bank holding company act of 1956, as amended' -- subject(s): Bank holding companies, United States
A company will be called a subsidiary/holding(sebtion-4 of companies act,1956)- if a company holding a company of another i.e it may be of (i).where the other company controls the composition of its board of directors,or (ii)where the company hold more than 50 percent of paidup capital,or (iii) The company is subsidiary of the subsidiary. IS CALLED THE SUBSIDIARY COMPANY .The other than subsidiary is called holding i.e which controls the other company due to the conditions stated above
joint stock company act
Dissolve Holding companies
Not specifically prescribed in company act 1956 but in company act 2011 it is recommended that internal auditor must be ca/cma or other professional suitable for internal audit in opinion of board.
I know one company which is registered under sec-25 of the companies act 1956, its Bhartiya Micro Credit
To the registrar of companies and have to file the required documents as per the act
Gramm-Leach-Bliley Act
I want company balance sheet as per schedule 6 part1 of the companies act. 1956.
Ah, the Public Utility Holding Company Act was passed by Congress in 1935, during a time when they were looking to regulate the utility industry. It aimed to address concerns about the control and influence of large utility companies. Just like painting a happy little tree, this act helped bring balance and transparency to the important world of public utilities.
This act led to increased legislation between 1930 and 1960 that limited bank holding activity and expansion