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Meaning and Definition of 'Foreign Company'
Definition of Foreign
Company under the Companies Act, 2013
In accordance with the section 2(42) of the Act, “foreign company” means any company or body corporate incorporated outside India which— (a) has a place of business in India whether by itself or through an agent, physically or through electronic mode; and (b) conducts any business activity in India in any other manner.
A slightly different meaning of Foreign
For the purposes of sub-section (2) of section 234 of the said Act, the expression “foreign company” means any company or body corporate incorporated outside India whether having a place of business in India or not.
The provisions of sub-section (2) of section 234 of the said Act mainly talks about merging of a foreign company with a Indian company with the prior approval of the Reserve Bank of India or vice versa.