MCA exempts foreign companies/incorporated outside from provisions of section 387 to 392
MINISTRY OF CORPORATE AFFAIRS
NOTIFICATION
New Delhi, the 5th August, 2021
S.O.3156(E).—In exercise of the powers conferred by section 393A of the Companies Act, 2013 (18 of 2013), the Central Government hereby exempts, from the provisions of sections 387 to 392 (both inclusive), the following:-
(a) foreign companies;
(b) companies incorporated or to be incorporated outside India, whether the company has or has not established, or when formed may or may not establish, a place of business in India,
insofar as they relate to the offering for subscription in the securities, requirements related to the prospectus, and all matters incidental thereto in the International Financial Services Centres set up under section 18 of the Special Economic Zones Act, 2005 (28 of 2005).
[F.No. 3/4/2021-CL.-I]
K.V.R. MURTY, Jt. Secy.
Download Notification Click Here >>
- If one proceeding is saved, other has to be quashed – interesting judgment of ITAT
- The Companies (Incorporation) Amendment Rules 2023 notified by MCA
- CBDT notifies California Public Employees Retirement System Pension Fund u/s 10(23FE)
- Trial Court to do enquiry u/s 202 CrPC for non jurisdictional assessee in IT Proceedings
- If creditors are bogus, entire purchases to be disallowed, not only outstanding balance
