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PROVISIONS APPLICABLE TO FOREIGN COMPANY AS PER COMPANIES ACT

PROVISIONS APPLICABLE TO FOREIGN COMPANY AS PER COMPANIES ACT

Corporate Social Responsibility (CSR):

The provisions of CSR are applicable to Foreign Company having branch office or project in India if it fulfill criteria of ‘Net Profit’ or ‘Turnover’. 

The criteria of Net Profit etc. apply only to business operations in India in case of foreign Company/ Project Office.

SECTION 71:-  (Debentures)

The provisions of Sec 71 of Companies Act, 2013 shall apply mutatis mutandis to a foreign Company. [This section relates to issue, redemption etc. of Debentures].

SECTION 92:-  (Annual Return)

The provisions of Sec 92 of Companies Act, 2013, shall subject to such exceptions, modifications and adaptations as may be made therein by rules made under this Act, apply to a foreign company as they apply to a company incorporated in India.

SECTION 128:-  (Books of Account)

The provisions of Section 128 of Companies Act, 2013, shall apply to a foreign company to the extent to requiring it to keep at its principal place of business in India, the books of account referred to in that section, with respect to monies received and spent, sales and purchases made and assets and liabilities, in the course of or in relation to its in India.

SECTION 77-87:-  (Charge)

The provisions of Chapter VI of the 2013 Act shall apply mutatis mutandis to charges on properties which are created or acquired by any foreign Company.

The charges are to be filed electronically in e-form. Satisfaction of charge is to be filed in e-form.

SECTION 206-229:-  (Inspection, Inquiry and Investigation)

The provisions of Chapter XIV of the 2013 Act shall apply mutatis mutandis to the Indian business of a foreign Company as they apply to a company incorporated in India. The provisions of Inspection and investigation apply to foreign Company also.

 PROVISIONS APPLICABLE TO FOREIGN COMPANY AS PER COMPANIES ACT

PROVISIONS APPLICABLE TO FOREIGN COMPANY AS PER COMPANIES ACT

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