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<h1>Subsidiary status for foreign companies clarified: subsidiaries may be private or public and retain prior incorporation status.</h1> A company incorporated outside India may incorporate subsidiaries in India as either a private company or a public company under the Companies Act, 2013; existing subsidiaries that acquired their status under the earlier Companies Act will continue with the same incorporation status on transition to the New Act, notwithstanding the absence of the former deeming provision.