If a shares of the company is held jointly by two share holder. 1 st holder is a resident Indian and 2 nd holder is a foreign company. In this case how we will take the status of the share holder. (i.e. either as Resident or Foreign Company) kindly provide the solution????? at the earliest.
A private Limited company in India is a subsidiary of Foreign Company. what is the status of private Company??
My interpretation is "It remains to be private Company" because the definition of foreign Company under FEMA as well as in the Companies Act, 2013 no where they mention that “ a company which is a subsidiary of foreign company shall be deemed to be a foreign company”..
CAclubindia
