One of Italian company (Say, IT company), started its business in India by forming a company (Say, IT India company). The shares of IT India company is held by IT company.
Weather IT India company will be treated as foreign company as per sec 2(42) and for porpose of chapter xxii of companies act, 2013?
for the foreign company , two conditions shall be checked
place of business in INDIA + having activity in INDIA (physically or electronically)
so in your case , I can say yes it is a foreign company
CAclubindia
