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Non-compliace of statutory requirement or any penalty

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Querist : Anonymous

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Querist : Anonymous (Querist)
02 May 2012 An Indian Company whose 100% holding is held by Non residents(outside india) All Board Meetings are held out side India. No meeting held in India. Is there any non compliace? and any penalty?

Please reply as soon as possible.
thanks.
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Ajay Mishra

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Ajay Mishra (Expert)
02 May 2012 Hi

The Companies Act, 1956 does not prohibit from holding Board Meeting outside India. But please check what your articles permit to do so.
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