Section 379 of CA 2013 : Section 379: Application Of Act To Foreign Companies
CA 2013
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Explanation using Example
Imagine a technology company based in the United States, "TechGlobal Inc.", which specializes in cloud services. TechGlobal Inc. has been successful and decides to expand its operations to India. As they set up their business, they issue shares to raise capital. An Indian corporation, "IndiCorp Pvt. Ltd.", and several Indian citizens collectively purchase 60% of TechGlobal Inc.'s paid-up share capital.
In ...
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