Tag Archives: Foreign Company

WINDING UP OF UNREGISTERED COMPANIES


Part – II of the Chapter XXI deals with winding up of unregistered companies.

UNREGISTERED COMPANY (EXPLANATION TO SECTION 375):

“unregistered company”—

(a)  shall not include— (i) a railway company incorporated under any Act of Parliament or other Indian law or any Act of Parliament of the United Kingdom; (ii) a company registered under this Act; or (iii) a company registered under any previous companies law and not being a company the registered office whereof was in Burma, Aden, Pakistan immediately before the separation of that country from India; and

(b) save as aforesaid, shall include any partnership firm, limited liability partnership or society or co-operative society, association or company consisting of more than seven members at the time when the petition for winding up the partnership firm, limited liability partnership or society or co-operative society, association or company, as the case may be, is presented before the Tribunal.
Continue reading

Advertisements

FOREIGN COMPANIES: CAPITAL AND OTHER MATTERS


In our last blog post, we discussed general provisions related to foreign companies. We will discuss provisions which are related to prospectus and penalties.

PROSPECTUS OF FOREIGN COMPANY (SECTION 387):

This provision is applicable to foreign companies, and there is no difference whether the company has or has not established or when formed will or will not establish a place of business in India.  No person shall issue, circulate or distribute in India any prospectus offering to subscribe for securities of a company incorporated or to be incorporated outside India unless the prospectus is dated and signed.

Continue reading

GENERAL PROVISIONS RELATED TO FOREIGN COMPANIES


Foreign company is a company or body corporate incorporated outside India which –

(a)  has a place of business in India whether by itself or through an agent, physically or through electronic mode; and

(b) conduct any business activity in India in any other manner.

Continue reading

INSPECTION, INQUIRY, INVESTIGATION


We will discuss one important but neglected aspect of inspection, inquiry and investigation in this blog post.

POWER TO CALL FOR INFORMATION, INSPECTION AND INQUIRIES (SECTION 206):

This is a long but very powerful section as it appear from its section – heading.

Continue reading