Application of Companies Act to foreign companies: majority Indian ownership requires compliance as if incorporated in India. Sections 380 to 386 and sections 392 and 393 apply to foreign companies. Where not less than fifty per cent. of the paid up share capital of a foreign company is held by Indian citizens or Indian companies, such company must comply with the provisions of Chapter XXII and other prescribed provisions of the Act regarding its business in India as if it were a company incorporated in India.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Application of Companies Act to foreign companies: majority Indian ownership requires compliance as if incorporated in India.
Sections 380 to 386 and sections 392 and 393 apply to foreign companies. Where not less than fifty per cent. of the paid up share capital of a foreign company is held by Indian citizens or Indian companies, such company must comply with the provisions of Chapter XXII and other prescribed provisions of the Act regarding its business in India as if it were a company incorporated in India.
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