Anup Koushik Karavadi Karan Talwar India, as an emerging economy, has hundreds of foreign companies being registered each year. Setting up business in India may be a complex process with its administrative and procedural compliances, but since the liberalisation policy in 1991, the government has time and again made changes, favourable for foreign investment and entry of foreign companies. One of the recent welcome developments is the enactment of the Companies Act, 2013, (the Act), which is more comprehensive than its predecessor, particularly with regard to the concept of a 'foreign company'. The said term is defined in section 2(42) to mean a company or corporate body incorporated outside India, and which has a place of business in India either by itself or through any agent, physically or through electronic mode, and which conducts any business activity in India in any other manner.
December 11, 2013