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Commencement Notification CA2013 :: Sections 379, 382, 383, 386

Chapter XXII-Companies Incorporated Outside India (379- 393)

Section 379- Application of Act to foreign companies

Where not less than fifty per cent. of the paid-up share capital, whether equity or preference or partly equity and partly preference, of a foreign company is held by one or more citizens of India or by one or more companies or bodies corporate incorporated in India, or by one or more citizens of India and one or more companies or bodies corporate incorporated in India, whether singly or in the aggregate, such company shall comply with the provisions of this Chapter and such other provisions of this Act as may be prescribed with regard to the business carried on by it in India as if it were a company incorporated in India.

Section 382- Display of name, etc., of foreign company

Every foreign company shall”

(a) conspicuously exhibit on the outside of every office or place where it carries on business in India, the name of the company and the country in which it is incorporated, in letters easily legible in English characters, and also in the characters of the language or one of the languages in general use in the locality in which the office or place is situate;

(b) cause the name of the company and of the country in which the company is incorporated, to be stated in legible English characters in all business letters, Act-heads and letter paper, and in all notices, and other official publications of the company; and

(c) if the liability of the members of the company is limited, cause notice of that fact”

(i) to be stated in every such prospectus issued and in all business letters, Act-heads, letter paper, notices, advertisements and other official publications of the company, in legible English characters; and

(ii) to be conspicuously exhibited on the outside of every office or place where it carries on business in India, in legible English characters and also in legible characters of the language or one of the languages in general use in the locality in which the office or place is situate.

Section 383- Service on foreign company

Any process, notice, or other document required to be served on a foreign company shall be deemed to be sufficiently served, if addressed to any person whose name and address have been delivered to the Registrar under section 380 and left at, or sent by post to, the address which has been so delivered to the Registrar or by electronic mode.

Section 386- Interpretation

For the purposes of the foregoing provisions of this Chapter,”

[ Not Notified] (a) the expression certified means certified in the prescribed manner to be a true copy or a correct translation;

(b) the expression director, in relation to a foreign company, includes any person in accordance with whose directions or instructions the Board of Directors of the company is accustomed to act; and

(c) the expression place of business includes a share transfer or registration office.

Tags: AsiaBoard of directorsBusinessCompanies ActCompanyGovernment of IndiaIndia

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