A Foreign entity wants to form an wholly owned subsidiary private limited in India, we need minimum of 2 directors,
1. is there necessary to have any one or all as indian citizen,
2. In MOA as subscriber, if any indian as a beneficial owner should mention as beneficial owner in the place of subscriber list
3. what will be the procedure to conduct meeting.
Kindly guide me in detail
Bharathi,
1.Two Directors can be of foreign nation
2. i opine that you need to mention one person as benefial owner in subscripttion sheet, since two members are manadatory to incorproate private company, there after you have to 187 C of the Companies Act.
3. As per MCA vide General Circular No. 28/2011 dated 20.05.2011, meeting can be held through electronic mode, go through circular for your better understanding.
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