Hi,
I have a query relating to registration of foreign company. Foreign Company has its wholly owned subsidiary in India which is incorporated. The foriegn company has sub-contracted a portion of its work to its wholly owned subsidiary which is carried out in India. The query is whether the foreign comapny is also required to be registered u/s 591 of the Companies Act.
Please do reply.
Thanks
Aksh*ta.
As per my view, and after going through provisions of section 591, foreign company in your case, does not required to be registered in India.
We have many such clients.
CA Rajesh Balsara.
Thanks
Are you aware of any case law?
Aksh*ta, there is no need of case law as the section 591 of Companies Act is very clear on the matter. Moreover the wholly owned subsidiary is already incorporated in India under the Companies Act ,1956.
CAclubindia
