- At least one director will have to be a resident
- Disclosure norms like that of domestic entities
- Silent on ‘place of business’ and winding up of businesses
A special chapter, which is being dedicated to foreign companies, suggests various regulations to be followed by such entities, including maintenance of accounts, filing of accounts with Registrar of Companies, cost audit, inspection, investigation, registration of charges, and creating debenture trusts. These provisions will be applicable to both foreign companies and those incorporated in India.
Be my friend on My StumbleUpon Page
Do you like to remain updated in Accountancy?Subscribe to Management Accountant by Email
You may also like to read