Companies Act

Section 391. Application Of Sections 34 To 36 And Chapter Xx

(1) The provisions of sections 34 to 36 (both inclusive) shall apply to–

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(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;

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(ii) the issue of Indian Depository Receipts by a foreign company.

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¹[(2) Subject to the provisions of section 376, 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 in case such foreign company has raised monies through offer or issue of securities under this Chapter which have not been repaid or redeemed.]

1. Subs. by Act 1 of 2018, s. 79, for sub-section (2) (w.e.f. 9-2-2018).