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of <h1>MCA Clarifies Foreign Companies Can Incorporate Subsidiaries in India Under Companies Act, 2013 Without Restrictions.</h1> The circular from the Ministry of Corporate Affairs clarifies the incorporation status of subsidiaries by companies incorporated outside India under the Companies Act, 2013. It addresses concerns regarding the absence of a specific provision from the Companies Act, 1956. The circular confirms that there is no restriction in the new Act for foreign companies to incorporate subsidiaries as either public or private companies. Additionally, existing subsidiaries of foreign companies registered under the previous Act will maintain their current status without any changes. This clarification has been issued with the approval of the competent authority.
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