Application of sections 34 to 36 and Chapter XX
(1)
The provisions of sections 34sections 34 to 36 (both inclusive) shall apply to—
(i)
the issue of a prospectusprospectus by a company incorporated outside India under section 389section 389 as they apply to prospectus issued by an Indian company;
(ii)
the issue of Indian Depository ReceiptIndian Depository Receipt by a foreign companyforeign company.
(2)
Subject to the provisions of section 376section 376, the provisions of Chapter XX shall apply mutatis mutandis for closure of the place of business of a foreign company in India as if it were a company incorporated in India in case such foreign company has raised monies through offer or issue of securities under this Chapter which have not been repaid or redeemed.
(2)
The provisions of Chapter XX shall apply mutatis mutandis for closure of the place of business of a foreign company in India as if it were a company incorporated in India.(Notified)
Notes, amendments & references (3)
Exempted for (a) foreign companies and (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 vide S.O.3156(E) Exemption Notification dated August 5,2021. To view the notification Click Here
Substituted vide Companies (Amendment) Act, 2017 dated 03.01.2018 effective from 09.02.2018. To view the notification, Click Here
Refer circular 01/2017. To view the clarification, Click Here