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of <h1>Indian Private Companies with Foreign Parent Deemed Public Under Companies Act, Section 43A: Compliance and Membership Rules Explained.</h1> Section 43A of the Companies Act mandates that an Indian private company with major shareholding by a parent company outside India is deemed a public company, even if a small percentage of shares is held by individuals. This applies unless the entire share capital is beneficially owned by the corporate body, with exceptions for nominal individual shareholding for director qualification. Such companies must comply with public company requirements, reorganizing membership accordingly. If directors become interested parties, the board must increase its strength with disinterested directors or seek general meeting approval for contracts if necessary.
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