Saturday, August 13, 2016

Section 379 of Companies Act 2013

Section 379 of Companies Act 2013 :-

Application of Act to foreign companies.

Where not less than fifty per cent. of the paid-up share capital, whether equity or preference or partly equity and partly preference, of a foreign company is held by one or more citizens of India or by one or more companies or bodies corporate incorporated in India, or by one or more citizens of India and one or more companies or bodies corporate incorporated in India, whether singly or in the aggregate, such company shall comply with the provisions of this Chapter and such other provisions of this Act as may be prescribed with regard to the business carried on by it in India as if it were a company incorporated in India.

India's Important Case Laws and Landmark Judgments on Companies Act 2013.

Section 379 Companies Act 1956 has been repealed.

No comments:

Post a Comment