MCA CLARIFICATION IN RELATION TO STATUS OF PRIVATE COMPANY WHICH IS SUBSIDIARY OF FOREIGN COMPANY

MCA CLARIFICATION IN RELATION  TO STATUS OF PRIVATE COMPANY WHICH IS SUBSIDIARY OF FOREIGN COMPANY

MCA has clarified that ‘there is no bar in the new Act for a company incorporated outside India to incorporate a subsidiary either as public company or a private company. An existing company , being a subsidiary of company incorporated outside India, registered under  Companies Act, 1956, either as private company or a public company by virtue of section 4(7) of the Companies Act 1956, will continue as private company or public company, as the case may be without change in incorporation status of such company.

General Circular No 23/2014, dated 25^th June 2014

http://mca.gov.in/Ministry/pdf/General_Circular_23_2014.pdf

 

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Note: Kindly note that the entire contents of this article have been developed on the basis of relevant statutory provisions and as per the information existing at the time of preparation i.e.  Act, notification, clarifications & circular issued till 25^th June 2014. Though we have made upmost efforts to provide authentic information, however we do not undertake any liability in any way whatsoever, to any person in respect of anything arising by reliance upon the content of this article.

MCA Clarification on format of Annual Return 

 

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