A subsidiary , subsidiary company or daughter company is a company owned or controlled by another company, which is called the parent company or holding company , which has legal and financial control over the company. Two or more subsidiaries that either belong to the same parent company or having a same management being substantially controlled by same entity/group are called sister companies . The subsidiary will be required to follow the laws where it is headquartered and incorporated. It will also maintain its own executive leadership.
52-523: Reliance Jio Infocomm Limited ( d/b/a Jio ) is an Indian telecommunications company and a subsidiary of Jio Platforms , headquartered in Navi Mumbai . It operates a national LTE network with coverage across all 22 telecom circles . Jio offers 5G , 4G and 4G+ services all over India. Its 6G service is in the works. Jio was soft launched on 27 December 2015 with a beta for partners and employees, and became publicly available on 5 September 2016. It
104-405: A corporate , although this term can also apply to cooperating companies and their subsidiaries with varying degrees of shared ownership. A parent company does not have to be the larger or "more powerful" entity; it is possible for the parent company to be smaller than a subsidiary, such as DanJaq , a closely held family company, which controls Eon Productions , the large corporation which manages
156-470: A subsidiary of Aspen Wind Corporation, to send radios to Kabul , Afghanistan. In the fourth quarter of 2005, the company released its WiMAX product line. In September 2006, Oak Investment Partners made a $ 29 million investment in the company. In 2010, the company teamed with LightSquared to market LightSquared's 1.4 GHz wireless spectrum in the United States. The spectrum is targeted primarily at
208-476: A definition that provides that "control" is "the capacity of an entity to dominate decision-making, directly or indirectly, in relation to the financial and operating policies of another entity so as to enable that other entity to operate with it in pursuing the objectives of the controlling entity". This definition was adapted in the Australian Corporations Act 2001 : s 50AA. Furthermore, it can be
260-404: A joint arrangement (joint operation or joint venture) over which two or more parties have joint control (IFRS 11 para 4). Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. The Companies Act 2006 contains two definitions: one of "subsidiary" and
312-432: 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. Thus any copyrights, trademarks, and patents remain with the subsidiary until the parent shuts down the subsidiary. Ownership of a subsidiary is usually achieved by owning a majority of its shares . This gives the parent the necessary votes to elect their nominees as directors of
364-579: A match in 360-degree stadium view while sitting in front of a 100-inch screen. A smartphone-based virtual reality headset for entertainment , learning , gaming , and wellness . JioTag, an affordable object tracker , was introduced by Reliance Jio in India. By utilizing Bluetooth 5.1 technology and the JioThings app, JioTag assists in locating lost items and alerts you when you inadvertently leave your connected device behind. JioTag Air This tracking device
416-456: A minimum amount of Rs.10. Jio owns spectrum in 850 MHz and 1,800 MHz bands in India's 22 circles , and also owns pan-India licensed 2,300 MHz spectrum. The spectrum is valid until 2035. Jio also picked up pan-India licenses in the 700 MHz, 3,500 MHz and 26 GHz spectrum bands in the DoT's 2022 5G auction. Jio shares spectrum with Reliance Communications . The sharing deal
468-509: A new triple play fiber to the home service known tentatively as Jio GigaFiber, including broadband internet with speeds ranging from 100 to 1000 Mbit/s, as well as television and landline telephone services. In August 2019, it was announced that the service would officially launch on 5 September 2019 as JioFiber, in honour of the company's third anniversary. Jio also announced plans to offer streaming of films still in theatres ("First Day First Show") to eligible JioFiber subscribers. In
520-413: A partnership with Samsung to work on LTE – Advanced Pro and 5G. Feb 2017 – Partnered with Ciena to deploy transport SDN architecture. Reliance Jio also partnered with several OSS ( Operations Support Systems ) & BSS ( Business Support System ) companies for the deployment of services, like: SAP , HP , IBM , Ericsson , Rancore , Estel Technologies, Subex and Intec Telecom Systems. However,
572-513: A partnership with Google in support of CBRS services. In August 2021, Airspan completed a business combination with New Beginnings Acquisition Corp. The newly-renamed "Airspan Networks Holdings Inc. then began trading on the NYSE American under the ticker symbol MIMO . The company was founded in January 1998. In May 1998, Eric D. Stonestrom was named president and chief executive officer of
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#1733085999205624-455: A subsidiary undertaking, if: The broader definition of "subsidiary undertaking" is applied to the accounting provisions of the Companies Act 2006, while the definition of "subsidiary" is used for general purposes. In Oceania , the accounting standards defined the circumstances in which one entity controls another. In doing so, they largely abandoned the legal control concepts in favour of
676-561: A useful part of the company that allows every head of the company to apply new projects and latest rules. Airspan Networks Airspan Networks is an American telecommunications company, headquartered in Boca Raton, Florida . The company develops Radio Access Network technology including the Sprint 'Magic Box' and cells (both small and macro) for the Rakuten virtualized network. Airspan
728-997: Is a subsidiary/child company of the ultimate parent company, while a second-tier subsidiary is a subsidiary of a first-tier subsidiary: a "grandchild" of the main parent company. Consequently, a third-tier subsidiary is a subsidiary of a second-tier subsidiary—a "great-grandchild" 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: The word "control" and its derivatives (subsidiary and parent) may have different meanings in different contexts. These concepts may have different meanings in various areas of law (e.g. corporate law , competition law , capital markets law ) or in accounting . For example, if Company A purchases shares in Company B, it
780-738: Is determined as due to an outbreak of bird flu . Subsidiary The subsidiary can be a company (usually with limited liability ) and may be a government-owned or state-owned enterprise . They are a common feature of modern business life, and most multinational corporations organize their operations in this way. Examples of holding companies are Berkshire Hathaway , Jefferies Financial Group , The Walt Disney Company , Warner Bros. Discovery , or Citigroup ; more focused companies include IBM , Xerox , and Microsoft . These, and others, organize their businesses into national and functional subsidiaries, often with multiple levels of subsidiaries. Subsidiaries are separate, distinct legal entities for
832-505: Is for 800 MHz band across seven circles other than the 10 circles for which Jio already owns. Sep 2014 – Acquired undisclosed stake in Airspan Networks for US$ 5 mn. Deploys Airspan's small cells throughout the network roll out phase. Sep 2016 – Jio signed a pact with BSNL for intra-circle roaming which would enable users of the operators to use each other's 4G and 2G spectrum in national roaming mode. Feb 2017 – Jio announced
884-769: Is owned by Brookfield Asset Management , for a consideration of ₹ 25,215 crore (US$ 3.0 billion). The company launched its 4G broadband services throughout India in September 2016. It was slated to be released in December 2015 after some reports said that the company was waiting to receive final permits from the government. Jio offers fourth-generation (4G) data and voice services, along with peripheral services like instant messaging and streaming movies and music. On 5 October 2022, it launched 5G services to Delhi , Mumbai , Kolkata , Chennai , Varanasi , Siliguri , Bangalore , Hyderabad and Nagpur . In August 2018, Jio began to test
936-497: Is possible that the transaction is not subject to merger control (because Company A had been deemed to already control Company B before the share purchase, under competition law rules), but at the same time Company A may be required to start consolidating Company B into its financial statements under the relevant accounting rules (because it had been treated as a joint venture before the purchase for accounting purposes). Control can be direct (e.g., an ultimate parent company controls
988-579: Is the largest mobile network operator in India and the third largest mobile network operator in the world with over 46.37 crore (463.78 million) subscribers. The company was registered in Ambawadi, Ahmedabad, Gujarat on 15 February 2007 as Infotel Broadband Services Limited (IBSL). In June 2010, Reliance Industries (RIL) bought a 95% stake in IBSL for ₹ 4,800 crore (equivalent to ₹ 110 billion or US$ 1.3 billion in 2023). Although unlisted, IBSL
1040-570: The 2016 ICC World Twenty20 matches. In May 2016, Jio launched a bundle of multimedia apps on Google Play as part of its upcoming 4G services. While the apps are available to download for everyone, a user will require a Jio SIM card to use some of them. Notable apps include: In September 2016, the Telecom Regulatory Authority of India (TRAI) summoned Jio and the country's existing telecom operators like Airtel , Vodafone , and Idea Cellular to meet and discuss an issue regarding
1092-537: The Cellular Operators Association of India (COAI) requested TRAI to include all the operators in the discussion instead of the three. The incumbent operators had previously approached the country's PMO to reiterate their stance that they " are in no way obliged or in any position to entertain Jio's requests for interconnection points as they do not have either the network or the financial resources to terminate
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#17330859992051144-464: The James Bond franchise. Conversely, the parent may be larger than some or all of its subsidiaries (if it has more than one), as the relationship is defined by control of ownership shares, not the number of employees. The parent and the subsidiary do not necessarily have to operate in the same locations or operate the same businesses. Not only is it possible that they could conceivably be competitors in
1196-477: The JioPhone 2 , an updated model in a keyboard bar form factor with a QWERTY keyboard and horizontal display. Jio also announced that Facebook , WhatsApp , and YouTube apps would become available for the two phones. The JioPhone Next is a fully-featured Android smartphone co-developed with Google as part of Jio's long-term partnership. It was announced on 24 June 2021, by Mukesh Ambani . The budget smartphone
1248-454: The KaiOS platform (derived from the defunct Firefox OS ), and includes a 2.4-inch display, a dual-core processor, 4 GB of internal storage, near-field communication support, a suite of Jio-branded apps (including the voice assistant HelloJio), and a Jio-branded application store . It also supports a "TV cable" accessory for output to an external display. In July 2018, the company unveiled
1300-853: The Reliance AGM, the chairman of Reliance announced that the JioAirFiber eliminates the need for the last mile fiber cable connectivity by making use of the Jio 5G wireless network, and the product was made available for purchase from 19 September 2023. The company has started installing JioAirFiber devices from 1 October 2023. On 27 October 2023, Jio launched its satellite-based GigaFiber internet service in India. In June 2015, Jio entered into an agreement with domestic handset maker Intex to supply 4G handsets capable of voice over LTE (VoLTE). However, in October 2015, Jio announced that it would be launching its own mobile handset brand named LYF . On 25 January 2016,
1352-548: The acquisition of Mimosa Networks in 2018, the company entered the market for fixed wireless solutions which are used in commercial, enterprise and operator networks for wireless backhaul and access applications. Airspan's 5G NR development program is focused on mmWave , Sub 6GHz, Massive MIMO , and Open Virtual RAN architectures. The company also offers fixed wireless access and backhaul solutions for PTP (point-to-point) and PTMP (point-to-multi-point) applications through its Mimosa Products. In March, 2019, Airspan announced
1404-503: The company launched its LYF smartphone series starting with Water 1, through its chain of electronic retail outlets, Reliance Retail . Three more handset models have been released so far, namely Water 2, Earth 1, and Flame 1. JioPhone is a line of feature phones marketed by Jio. The first model, released in August 2017 (with public pre-orders beginning 24 August 2017), was positioned as an "affordable" LTE-compatible feature phone. It runs on
1456-712: The company postponed the launch to the first quarter of the financial year 2016–2017. Later, in July 2015, a PIL filed in the Supreme Court by an NGO called the Centre for Public Interest Litigation , through Prashant Bhushan , challenged the grant of a pan-India license to Jio by the Government of India . The PIL also alleged that the firm was being allowed to provide voice telephony along with its 4G data service , by paying an additional fee of just ₹ 165.8 crore (US$ 20 million) which
1508-409: The company. Its first product, AS4020 platform, was based on CDMA radio technology adapted for fixed wireless access points . In July 2000, as the dot-com bubble was bursting, the company became a public company and raised $ 82.5 million in an initial public offering . Its stock price rose 113% in its first day of trading. In 2004, the company made an agreement with Neda Telecommunications,
1560-703: The consumer. No operator can cause trouble if they want to change operators." However, on 12 September 2016, Idea Cellular agreed to allow Jio to use 196 of its interconnection access points. On 10 July 2017, Jio's customer data was allegedly leaked on the website magicapk.com. The website was suspended shortly after the news of the breach broke out. During the 2020–2021 Indian Farmers' Protest , farmers across multiple states in northern part of India boycotted and vandalized Jio's towers owing to allegations of Reliance Industries's support to controversial farm laws of India. Jio blamed its competitors Airtel and Vodafone for spreading rumours of "Reliance being an undue beneficiary in
1612-451: The farm bills", an allegation both the companies denied. The company saw a loss of around 25 lakh (2.5 million) subscribers in Punjab and Haryana between November and December 2020. In January 2021, several social media posts started circulating linking bird deaths to Jio's 5G network trials. The claims were found to be fake as 5G trials were not yet permitted. The cause of the death of the birds
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1664-551: The finalized OSS firms were Ericsson, HP and Friendly Technologies. Sep 2020 – Partners with Cisco Systems for 5G deployment. Sep 2020 – Announces partnership with HFCL to deploy Fiber-optic communication to support the rollout of FTTx services. Oct 2022 - Contracts with Nokia & Ericsson for supplying standalone 5G network equipment. Summit Digitel Infrastructure (formerly known as Reliance Jio Infratel Private Limited) operates 136,000 telecom sites. This division has been divested to Tower Infrastructure Trust, which
1716-453: The first-tier subsidiary directly) or indirect (e.g., an ultimate parent company controls second and lower tiers of subsidiaries indirectly, through first-tier subsidiaries). Recital 31 of Directive 2013/34/EU stipulates that control should be based on holding a majority of voting rights, but control may also exist where there are agreements with fellow shareholders or members. In certain circumstances, control may be effectively exercised where
1768-426: The interconnection between the operators. This was a result of Jio complaining to TRAI and Department of Telecom (DoT) about other operators not honoring their commercial agreements to let Jio use their network resources. The company further added that the operators are trying to sabotage its entry into the telecom scene. However, DoT dismissed the request and directed TRAI to help settle the dispute amicably. Moreover,
1820-435: The latter's humongous volumes of potentially asymmetric voice traffic. " Responding to this, Mukesh Ambani, owner of Jio, said, " All operators have publicly said last week that they will provide this (interconnect and MNP). So, we are waiting. These are all great companies. They have their own reputations to protect. I am confident they won't violate the law. " Commenting about number portability, he added, "The number belongs to
1872-555: The marketplace, but such arrangements happen frequently at the end of a hostile takeover or voluntary merger. Also, because a parent company and a subsidiary are separate entities, it is entirely possible for one of them to be involved in legal proceedings, bankruptcy, 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. describe multiple levels of subsidiaries. A first-tier subsidiary
1924-479: The other "subsidiary undertaking". According to s.1159 of the Act, a company is a "subsidiary" of another company, its "holding company", if that other company: The second definition is broader. According to s.1162 of the Companies Act 2006, an undertaking is a parent undertaking in relation to another undertaking, a subsidiary undertaking, if: An undertaking is also a parent undertaking in relation to another undertaking,
1976-468: The parent holds a minority or none of the shares in the subsidiary. According to Article 22 of the directive 2013/34/EU an undertaking is a parent if it: Additionally, control may arise when: Under the international accounting standards adopted by the EU a company is deemed to control another company only if it has all the following: A subsidiary can have only one parent; otherwise, the subsidiary is, in fact,
2028-430: The purposes of taxation , regulation and liability . For this reason, they differ from divisions which are businesses fully integrated within the main company, and not legally or otherwise distinct from it. In other words, a subsidiary can sue and be sued separately from its parent and its obligations will not normally be the obligations of its parent. However, creditors of an insolvent subsidiary may be able to obtain
2080-460: The subsidiary, and so exercise control. This gives rise to the common presumption that 50% plus one share is enough to create a subsidiary. There are, however, other ways that control can come about, and the exact rules both as to what control is needed, and how it is achieved, can be complex (see below). A subsidiary may itself have subsidiaries, and these, in turn, may have subsidiaries of their own. A parent and all its subsidiaries together are called
2132-480: The utility industry for Smart Grid deployments. In 2009, the company's stock was delisted from the NASDAQ. In March 2021, the company announced that it would be re-listed on NYSE American through a reverse merger with New Beginnings Acquisition Corporation, a special-purpose acquisition company . In August 2021, the company completed the reverse merger with New Beginnings Acquisition Corporation. The parent company
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2184-513: The widespread adoption of this device. The Jio Bharat Phone is specifically targeted towards individuals who are unable to afford expensive smartphones but still rely on basic features. JioFi is a portable broadband device brought by Reliance Digital . The JioFi device allows multiple users and mobile devices to access Jio's 4G high-speed internet connectivity and create a personal Wi-Fi hotspot . Reliance Jio has unveiled its JioDive virtual reality (VR) headset in India, to help IPL fans watch
2236-428: The year 2015, the company has a network of more than 250,000 km (160,000 mi) of fiber optic cables in the country, over which it will be partnering with local cable operators to get broader connectivity for its broadband services. In March 2021, the company launched connectivity solutions for businesses bundled with services provided by Jio Platforms , Reliance Retail , and Office 365 . In August 2023, in
2288-603: Was arbitrary and unreasonable, and contributed to a loss of ₹ 2,284.2 crore (US$ 270 million) to the exchequer. The Indian Department of Telecommunications (DoT), however, explained that the rules for 3G and BWA spectrum didn't restrict BWA winners from providing voice telephony. As a result, the PIL was revoked, and the accusations were dismissed. The 4G services were launched internally on 27 December 2015. The company commercially launched its 4G services on 5 September 2016, offering free data and voice services until 31 December, which
2340-466: Was available in 365 cities across India. As of April 2023, 5G service was available across 2,500+ cities in India. In August 2023, it was announced that Jio had completed its rollout of 5G services nationwide, ahead of schedule. On 17 October 2024 India to allocate satellite broadband spectrum administratively, not via auction, hours after Musk criticism. On 29 October 2024, Jio Financial Services launched SmartGold for digital gold purchase facilities with
2392-522: Was hence renamed "Airspan Networks Holdings Inc." and began trading on the NYSE American under the ticker symbol MIMO . In May 2023, Glenn Laxdal was announced as the new CEO. In 2023 Airspan sold Mimosa to Indian communication giant JIO for $ 60 million through JIO wholly owned subsidiary Radisys Corporation. In March 2024, the company announced that it would become private after receiving up to $ 95 million in new equity financing. The company's stock
2444-477: Was later extended until 31 March 2017. Within the first month, Jio announced that it had acquired 1.6 crore (16 million) subscribers and has crossed 5 crore (50 million) subscriber mark in 83 days since its launch, subsequently crossing 100 million subscribers on 22 February 2017. By October 2017, it had about 13 crore (130 million) subscribers. On 5 October 2022, it has launched 5G services to Delhi , Mumbai , Kolkata and Chennai . As of March 2023, Jio 5G service
2496-600: Was launched in India on 4 November 2021. The JioPhone Next will be run by the indigenously built Pragati OS based on the Android Go operating system. This phone is classified as an entry-level phone and is aimed at replacing feature phones and providing basic smartphone services efficiently at low specifications. Reliance Jio has introduced a budget-friendly 4G phone called Jio Bharat at an affordable price of ₹999. The phone's sales commenced on 7 July 2023, and Reliance Jio aims to eliminate 2G technology from India through
2548-1372: Was launched in July 2024 by Reliance Jio, as a successor to JioTag. It features Bluetooth 5.3 technology. It supports both iOS ( iOS 14 and above) and Android (version 9 and above) platforms. Prior to its pan-India launch of 4G data and telephony services, the firm has started providing free Wi-Fi hotspot services in cities throughout India including Surat , Ahmedabad in Gujarat , and Visakhapatnam in Andhra Pradesh , Indore , Jabalpur , Dewas and Ujjain in Madhya Pradesh , select locations of Mumbai in Maharashtra , Kolkata in West Bengal , Lucknow in Uttar Pradesh , Bhubaneswar in Odisha , Mussoorie in Uttarakhand , Collectorate's Office in Meerut , and at MG Road in Vijayawada among others. In March 2016, Jio started providing free Wi-Fi internet to spectators at six cricket stadiums hosting
2600-464: Was originally a product division of DSC Communications, a manufacturer of telephone switching equipment. Original products included a CDMA -based radio platform used for the fixed wireless market. In 1998, the company separated from DSC Communications and announced Eric Stonestrom as CEO and President. Airspan originally focused its product line on the small cell and mini-macro equipment market, used by mobile operators to extend wireless services. Through
2652-676: Was soon delisted from the NYSE, and the company filed for a voluntary prepackaged Chapter 11 bankruptcy filing in order to implement the deal. Airspan's industry recognition and awards date back to 2007 when the company won the 'Best of WiMAX World USA Award'. Airspan & Jio won the SCF 2020 Award for Excellence in Commercial Deployment (Urban). Sprint and Airspan won the SCF 2019 Small Cell Award for Excellence in Commercial Deployment. Sprint & Airspan Netlworks – Sprint LTE Magic Box won
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#17330859992052704-425: Was the only company that won broadband spectrum in all 22 circles in India in the 4G auction that took place earlier that year. Later continuing as RIL's telecom subsidiary, Infotel Broadband Services Limited was renamed as Reliance Jio Infocomm Limited (RJIL) in January 2013. In June 2015, Jio announced that it would start its operations throughout the country by the end of 2015. However, four months later in October,
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