A subsidiary, subsidiary company or daughter company is a company, owned or controlled by another company, called the parent company, parent, or holding company. The subsidiary can be corporation, or limited liability company. In some cases it is a government or state-owned enterprise. In the United States railroad industry, an operating subsidiary is a company, a subsidiary but operates with its own identity and rolling stock. In contrast, a non-operating subsidiary would exist on paper only and would use the identity of the parent company. Subsidiaries are a common feature of business life and most multinational corporations organize their operations in this way. Examples include holding companies such as Berkshire Hathaway, Jefferies Financial Group, WarnerMedia, or Citigroup. These, others, organize their businesses into national and functional subsidiaries with multiple levels of subsidiaries. Subsidiaries are separate, distinct legal entities for the purposes of taxation and liability. For this reason, they differ from divisions, which are businesses integrated within the main company, not or otherwise distinct from it.

In other words, a subsidiary can sue and be sued separately from its parent and its obligations will not be the obligations of its parent. However, creditors of an insolvent subsidiary may be able to obtain a judgment against the parent if they can pierce the corporate veil and prove that the parent and subsidiary are mere alter egos of one another, therefore any copyrights and patents remain with the subsidiary until the parent shuts down the subsidiary. One of the ways of controlling a subsidiary is achieved through the ownership of shares in the subsidiary by the parent; these shares give the parent the necessary votes to determine the composition of the board of the subsidiary, so exercise control. This gives rise to the common presumption. There are, other ways that control can come about, the exact rules both as to what control is needed, how it is achieved, can be complex. A subsidiary may itself have subsidiaries, these, in turn, may have subsidiaries of their own. A parent and all its subsidiaries together are called a corporate, although this term can apply to cooperating companies and their subsidiaries with varying degrees of shared ownership.

A parent company does not have to be "more powerful" entity. Conversely, the parent may be larger than some or all of its subsidiaries, as the relationship is defined by control of ownership shares, not the number of employees; the parent and the subsidiary do not have to operate in the same locations or operate the same businesses. Not only is it possible that they could conceivably be competitors in the marketplace, but such arrangements happen at the end of a hostile takeover or voluntary merger; because a parent company and a subsidiary are separate entities, it is possible for one of them to be involved in legal proceedings, tax delinquency, indictment or under investigation while the other is not. In descriptions of larger corporate structures, the terms "first-tier subsidiary", "second-tier subsidiary", "third-tier subsidiary" etc. are used to describe multiple levels of subsidiaries. A first-tier subsidiary means a subsidiary/daughter company of the ultimate parent company, while a second-tier subsidiary is a subsidiary of a first-tier subsidiary: a "granddaughter" of the main parent company.

A third-tier subsidiary is a subsidiary of a second-tier subsidiary—a "great-granddaughter" of the main parent company. The ownership structure of the small British specialist company Ford Component Sales, which sells Ford components to specialist car manufacturers and OEM manufacturers, such as Morgan Motor Company and Caterham Cars, illustrates how multiple levels of subsidiaries are used in large corporations: Ford Motor Company – U. S. parent company based in Dearborn, Michigan Ford International Capital LLC – First-tier subsidiary Ford Technologies Limited – Second-tier subsidiary Ford Motor Company Limited – Third-tier subsidiary The word "control" and its derivatives may have different meanings in different contexts. These concepts may have different meanings in accounting. For example, if Company A purchases shares in Company B, it is possible that the transaction is not subject to merger control, but at the same time Company A may be required to start consolidating Company B into its financial statements under the relevant accounting rules.

Control can be indirect. Recital 31 of Directive 2013/3


Manwath is a town with municipal council in Parbhani district in the Indian state of Maharashtra. As of 2011 India census, Manwath has population of 32,488 of which 16,522 are males while 15,966 are females. Female Sex Ratio is of 966 higher than Maharashtra state average of 929. 13.73% of the population is under 6 years of age. Literacy rate of Manwath city is 78.07% lower than state average of 82.34%. In Manwath, Male literacy is around 86.10% while female literacy rate is 69.89%. Schedule Caste constitutes 9.21 %. There are two forms of government transport in Railway. State Transport Buses. There is a railway station named Manwath Road railway station, 7 km from the city; the national highway 61 runs from the city. It is about 37 km from Parbhani. There is a bus stand in the city. Indian travels booking office near bus stop Manwath. K. K. Z. P. School. Industrial Training Institute Netaji Subash Vidyalaya. Srimati Shakuntalabai Kanchanrao Katruwar Vidyalaya Shrimati saraswati bai bhale patil vidyalaya.

Kasturba Gandhi Vidyalaya Model English school) Sara Kasturba Gandhi Vidyalaya abdul kalam Urdu primary school al-fateh iqra Urdu school, galib nagar.(al-qureshswati Primary English School. Little Flower English School

List of VFL/AFL pre-season and night series premiers

This page is a complete chronological listing of the pre-season and night series premiers of the Australian Football League, known as the Victorian Football League until 1990. Although it spans three different competitions, the premierships are considered equivalent. From 1956 to 1971, the first VFL Night Series was a consolation knock-out competition held in September at the Lake Oval in Albert Park amongst the eight teams who failed to reach the finals in the VFL premiership season, apart from 1957, when all twelve teams competed. There were no official VFL night series held during the 1972 to 1976 seasons, however in 1976 the National Football League held their own night series mid-week during the season, known as the NFL Wills Cup. In 1977, the VFL revived their own night series held mid-week during the season and televised on Channel 7 to rival the NFL series, shown on Channel 10. Whilst the 1977 series only featured the twelve VFL teams, between 1978 and 1986 a selection of teams from the SANFL, WAFL and representative teams from Australian Capital Territory, New South Wales and Tasmania competed.

This became known as the Australian Football Championships Night Series and ran until 1987. With the national expansion of the VFL to include teams from Western Australia and Queensland the 1987 series was restricted to only the 14 VFL teams and commenced during the pre-season period, but was completed mid-week between rounds 5 and 6 of the 1987 VFL season. From 1988 until 2013, the competition was played in its entirety before the premiership season began and is competed for by only the VFL or AFL teams, became the Australian Football League pre-season competition; the preseason competition was abandoned in 2014, replaced with discrete practice matches. ^The Australian Football League was called the Victorian Football League prior to 1990. From 2003 onwards, the pre-season cup competition has had a modified scoring system, that includes awarding 9 points for Super Goals that are kicked from outside the 50m arc and 3 points for rushed behinds; the double premiership of winning both the night/pre-season and main premiership competitions has been achieved on seven occasions, by three clubs.

In 2007, the AFL announced. The offer was not extended past that season, so neither St Kilda, who won the 2008 NAB Cup and made the preliminary final of the 2008 AFL season nor Geelong, who achieved the double in 2009 were eligible for the extra prizemoney. Three teams have won the pre-season premiership after winning the main season premiership. Carlton won the main VFL Premiership in 1982 and back up with a night premiership in 1983. Hawthorn won the AFL Premiership in 1991 backed the following year to win the pre-season competition in 1992. Collingwood won the 2010 AFL Grand Final and also won the 2011 NAB Cup. List of Australian Football League premiers