Foreign Company

NOT, It's not an Indian company if the following conditions fulfilled the criteria;

(1) not less than 50% of paid up capital(equity/preference or partly both) held by:
1. one or more citizens of India; or
2. by one or more companies or body corporate incorporated in india; or
3. both the above 1&2 points.

whether singly or in the aggregate,such company shall comply with provisions of section 379 with regard to the business carried on by it in india as if it were a company incorporated in india.

(I hope the above points will help you for better understanding)