Status of private company???
This query is : Resolved
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????
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????
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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