Delphi - form within form

For aesthetic reasons, I want to show a form on top of another form, just as if it were a component, say like a TPanel. It should resize with the parent, move around as the parent is dragged by its title bar, etc.

-----------------------------
| main form component 1     |
-----------------------------
| main |  the 'embedded'    |  
| form |  form goes here    |
|comp 2|                    |
-----------------------------

can I do that? If so how?

I am now leaning towards MDI...