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of <h1>Foreign Companies with 50% Indian Ownership Must Comply with Companies Act, 1956 Sections 592-602 Rules.</h1> Sections 592 to 602 of the Companies Act, 1956, apply to foreign companies that establish a place of business in India, whether before or after the commencement of the Act. If at least 50% of the paid-up share capital of such a foreign company is held by Indian citizens or Indian-incorporated bodies, the company must comply with specific provisions of the Act as if it were an Indian-incorporated company. This ensures that foreign companies with significant Indian ownership follow the same regulatory framework as domestic companies when conducting business in India.
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