A wholly owned subsidiary is a company with 100% of its shares owned by another corporation, which is the parent company. A parent company can acquire a wholly owned subsidiary or create one through a split-off.
source https://www.caclubindia.com/articles/functions-of-wholly-owned-subsidiary-company-49452.asp
source https://www.caclubindia.com/articles/functions-of-wholly-owned-subsidiary-company-49452.asp
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