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<h1>Deeming foreign companies as domestic when majority of paid-up capital is held by Indian persons, triggering domestic compliance obligations.</h1> Sections 592 to 602 apply to foreign companies that establish or maintain a place of business in India. Where a foreign company's paid-up share capital is held in majority by Indian citizens or Indian incorporated bodies, it must comply with prescribed provisions of the Act in respect of its Indian business as if it were a company incorporated in India.