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CA FINAL CORPORATE LAW

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Is it considered a foreign company if: The company is incorporated outside India, it doesn't have a place of business in India, but all its shareholders are Indian citizens.

Gnanakshi Dandapani

CA Final

★ 13K+

11-Sep-22 20:09

347

Answers (2)

As per Sec 379(2), it is considered as foreign company.

Nishanth Ronad

CA Final

★ 10

11-Sep-22 23:59

Yes its a foreign company It doesn't matter the nationality of shareholders. We need to just look at the place where company was incorporated

Thanusha Lakshmi

CA Final

★ 3K+

12-Sep-22 14:56