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Status of private company???

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(Querist)
14 October 2015 Dear Professionals,

A Private Limited Company in India is a subsidiary of a foreign Company. What is the status of Private Company?

My interpretation is “It remains to be in the status as Private Limited Company” because the definition of foreign Company under FEMA as well as in the Companies Act, 2013 no where the mention that “a company which is a subsidiary of foreign Company shall be deemed to be a foreign Company”..

Is my interpretation is correct????
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
14 October 2015 Seems your understanding is correct since there is no corresponding section in 2013 act for section 4(7) of 1956 act.
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Nithya V

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Nithya V (Querist)
15 October 2015 Thank u so much for ur reply sir.
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