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Section 391 Of Companies Act 2013: Application Of Sec. 34 to 36 & Chapter XX

Corporate Law (Country: India)

SECTION-391 (Application of sections 34 to 36 and Chapter XX) under CHAPTER-XXII (Companies Incorporated Outside India) of the Companies Act, 2013

(1) The provisions of sections 34 to 36 (both inclusive) shall apply to—
(i) the issue of a prospectus by a company incorporated outside India under section 389 as they apply to prospectus issued by an Indian company;
(ii) the issue of Indian Depository Receipts by a foreign company.
(2) The provisions of Chapter XX shall apply mutatis mutandis for closure of the place of business of a foreign company in India as if it were a company incorporated in India.

Extra Notes for Readers

(1) The Companies Act, 2013 received the assent of the President on the 29th August, 2013 (Published in the Gazette of India, Extraordinary, Part II - Section 1 by Ministry of Law and Justice, Legislative Department on 30th August, 2013) - link

(2) Sub-section (1) of Section 391 of the Companies Act 2013 was notified by MCA Notification S.O. 902(E) dated 26th March 2014 (w.e.f. 1st April 2014) - link

(3) Sub-section (2) of section 391 of the Companies Act 2013 was notified by MCA Notification S.O. 3677(E) dated 7th December 2016 (w.e.f. 15th December 2016) - link

(4) Also refer the Companies (Registration of Foreign Companies) Rules, 2014 (w.e.f. 1st April 2014) link

Note: Please check MCA site for any further amendments to the Companies (Registration of Foreign Companies) Rules, 2014.

(5) MCA Clarification on Section 391(2) closure of place of business by a Foreign Company (vide General Circular No. 01/2017 dated 22nd February, 2017) - link

This page was last updated on 30th May, 2017.

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