Query for status of company

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 July 2015 Hi,

I have query regarding one issue.

My company is foreign subsidiary private company located in India as private limited. & It's Parent company is public holding company located outside India.

Whether my company is public company or continue as private company as per companies act 2013?

Pratik Shah

Pratik Shah (Expert)
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01 July 2015 It will remain a private company for the purpose of Companies Act 2013. Because the holding company is not a Public company as defined in Companies Act 2013

Querist : Anonymous

Querist : Anonymous (Querist)

01 July 2015 But it's parent company is public company outside india.

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Pratik Shah

Pratik Shah (Expert)
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01 July 2015 That does not matter in India. Companies Act does not recognize status of company incorporated outside India as public or private.

In fact, the definition of 'Company' does not include any entity incorporated outside India.

Every such entity incorporated outside India is included in the definition of 'Body Corporate' as per Companies Act 2013. And if you see, the definition of 'private company' and 'public company' does not have word 'Body corporate'.

So, don't worry. I am sure, in your case, it can not be considered as 'Public Company'. Still, if you are confused, you can ask any other person.