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Foreign company

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 October 2015 A foreign company holds 99.9% shares in company (Say xyz pvt ltd) incorporated in India. Remaining 0.1% is held by foreign individual.
Is the company xyz pvt ltd a pvt ltd company or foreign company?
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
24 October 2015 PRIVATE LIMITED COMPANY. THE 'CIN' CONTAINS 'FTC' WHICH MEANS SUBSIDIARY OF A FOREIGN COMPANY FORMED AS Pvt Ltd.
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Querist : Anonymous

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Querist : Anonymous (Querist)
25 October 2015 CIN must have been alloted at the time of incorporation na? If shares are acquired after incorporation, what would be the status?
What is the min % reqd for a company to become a foreign co?
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Pratik Shah

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Pratik Shah (Expert)
29 October 2015 If a company is incorporated in India, it can not become Foreign Company.
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Querist : Anonymous

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Querist : Anonymous (Querist)
29 October 2015 Thanks Pratik!
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