Foreign Company Faces Compliance Review Under Companies Act, 1956: Key Hearing Set for December 2022. The HC of Delhi is deliberating on the compliance of a foreign company with Section 583 of the Companies Act, 1956. The Division Bench's previous order in ...
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Foreign Company Faces Compliance Review Under Companies Act, 1956: Key Hearing Set for December 2022.
The HC of Delhi is deliberating on the compliance of a foreign company with Section 583 of the Companies Act, 1956. The Division Bench's previous order in CO.APP. 25/2018 was referenced. Counsel for the respondent emphasized the importance of resolving this compliance issue. Submissions are scheduled for 5th December 2022.
Issues involved: Compliance with conditions u/s 583 of the Companies Act, 1956 by a foreign company not registered in India.
Summary:
The High Court of Delhi, in a case involving a foreign company not registered in India, is considering whether the petitioner complied with the conditions as prescribed in Section 583 of the Companies Act, 1956. The reference was made to the order dated 12.11.2018 of the Division Bench of the Court in CO.APP. 25/2018, titled Greka Drilling (India) Limited v. Arabian Oilfield Suppliers & Service. The learned counsel for the respondent highlighted the need to address this question in the upcoming hearing. The counsels are directed to make submissions on this issue on the next hearing scheduled for 5th December 2022.
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