Qualifying company status requires Indian incorporation, Indian effective management, qualifying ship ownership, and ship-operating business as the main object.

Qualifying company status requires an Indian company to have its place of effective management in India, own at least one qualifying ship, and have operating ships as its main business object. The place of effective management is where the board or executive directors make decisions. If the board routinely approves decisions made by executives or officers, it is where those executives or officers perform their functions.

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