29 February 2012
A Chinese Company is holding 99.99% shareholding in an Indian company (Incorporated in Kolkata) so in this case whether the Indian Company will be considered as " Foreign Company ".
If it will be considered as foreign company then apart from Section 592 to 602 will any other sections will be applicable as a foreign company.
29 February 2012
No, Even if it holds 100% holding in the Indian Company, Indian Company since incorporated in the laws of India it will always be treated as Indian Company. Pre-requisite to be called foreign company is that the company should be registered in laws outside india.....
01 March 2012
Firstly Company is establish in india under company Act 1956. A Company can not sell his hold more than 51% to foreign company. E.g Wall-Mart case
CAclubindia
