I have one query...
Here is a Company XYZ ltd. incorporated outside India, wants to start its Business in India, it opens a subsidiary in India with name "XYZ india private ltd." and gets registered under Indian Company's Act 1956.. Now, I want to know will this subsidiary will be refered as Indian Company or Foreign Company?
I my opinion -
For being a foreign co. there are 2 necessary conditions -
It should be incorporated outside india and it should establish a place of business in india.
In your question as the subsy is registered in India it shall be an Indian co. and not a foreign co. The normal provisions of Companies Act will be applicable on it
Yes. The company will be an Indian Co. since it has its place of business in India & registered under Companies Act,1956.
CAclubindia
