Companies Act

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

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.


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.]

References

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