Closing of Foreign Subsidiary company In India

[anu malve]

We want to close foreign subsidiary company in India. What is the procedure and related forms that need to be filed with MCA?

AI Summary

Debate on Closing Foreign Subsidiary in India: Companies Act 1956 vs. 2013; Fast Track Exit Preferred Method A discussion on closing a foreign subsidiary in India focused on the applicable legal framework and procedures. Participants debated whether the Companies Act, 1956 or the Companies Act, 2013 should be followed, with some noting that the closure provisions of the 2013 Act were not yet in force. Options for closure included the Fast Track Exit scheme, share transfer, and voluntary winding up, with the Fast Track Exit being the simplest method. Participants agreed on the importance of adhering to the correct legal procedures for a smooth closure process.