Foreign company
This query is : Resolved
29 February 2012
A Chinese Company is holding 99.99% shareholding in an Indian company (Incorporated in Kolkata) so in this case whether the Indian Company will be considered as " Foreign Company ".
If it will be considered as foreign company then apart from Section 592 to 602 will any other sections will be applicable as a foreign company.
If it will be considered as foreign company then apart from Section 592 to 602 will any other sections will be applicable as a foreign company.
CA Nikhil Jhanwar
(Expert)
29 February 2012
No, Even if it holds 100% holding in the Indian Company, Indian Company since incorporated in the laws of India it will always be treated as Indian Company. Pre-requisite to be called foreign company is that the company should be registered in laws outside india.....
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Ajay Mishra
(Expert)
01 March 2012
Agree with Expert.
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Ravi Jhamb
(Expert)
01 March 2012
Firstly Company is establish in india under company Act 1956. A Company can not sell his hold more than 51% to foreign company. E.g Wall-Mart case
Ajay Mishra
(Expert)
01 March 2012
Dear Ravi
Their are lots of sector in which 100% FDI is permitted like, petroleum, NBFC, Development of township, print media etc....
Their are lots of sector in which 100% FDI is permitted like, petroleum, NBFC, Development of township, print media etc....
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Ankur Garg
(Expert)
02 March 2012
Agree with expert...
100% shareholding by a foreign company is permitted in India.
100% shareholding by a foreign company is permitted in India.
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