Restrictions imposed on number of layers for certain class of holding companies vide notification no. [ F. No. 01/13/2013 CL-V (Vol. III)]
Silent features of notification are : (a) no companies other than certain class of holding company should have more than two layers of subsidiaries (b) This rule shall not affect a company incorporated outside India with subsidiaries beyond two layers as per the laws of such country (c) any existing company in excess of two layers shall fill the form CRL I. Please find details of notification in the below link.
