HL holds 25% shares and 100% debentures of VL. Then which of the following is the relationship
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HL holds 25% shares and 100% debentures of VL. Then which of the following is the relationship between HL and VL?
(a) VL is associate company of HL.
(b) VL is subsidiary of HL.
(c) HL is subsidiary of VL.
(d) None of these.
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