law: Companies Act, 2013 
  19.
  
    Subsidiary
  
  company not to hold shares in its holding company.
  1.      No company shall,
  
  either by itself or through its nominees, hold any shares in its holding
  
  company and no holding company shall allot or transfer its shares to any of its
  
  subsidiary companies and any such allotment or transfer of shares of a company
  
  to its subsidiary company shall be void:
  Provided
  
  that nothing in this sub-section shall apply to a case—
  a.     
  
    where
  
  the subsidiary company holds such shares as the legal representative of a deceased
  
  member of the holding company; or
  b.    
  
    where
  
  the subsidiary company holds such shares as a trustee; or
  c.     
  
    where
  
  the subsidiary company is a shareholder even before it became a subsidiary
  
  company of the holding company:
  Provided
  
  further that the subsidiary company referred to in the preceding proviso shall
  
  have a right to vote at a meeting of the holding company only in respect of the
  
  shares held by it as a legal representative or as a trustee, as referred to in
  
  clause (a ) or clause (b ) of the said proviso.
  1.     
  2.      The reference in this
  
  
  
  section to the shares of a holding company which is a company limited by
  
  guarantee or an unlimited company, not having a share capital, shall be
  
  construed as a reference to the interest of its members, whatever be the form
  
  of interest.