valid as on 22/05/2024

Section 391. Application of sections 34 to 36 and Chapter XX
Effective from 01-04-2014, font in blue from 15-12-2016

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

(i) the issue of a by a company incorporated outside India under section 389 as they apply to prospectus issued by an Indian company;
(ii) the issue of  by a .


(2) The  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.(Notified)

Exempted for (a) foreign companies and (b) companies incorporated or to be incorporated outside India, whether the company has or has not established, or when formed may or may not establish, a place of business in India vide S.O.3156(E) Exemption Notification dated August 5,2021. To view the notification Click Here
2(70) Prospectus means any document described or issued as a prospectus and includes a red herring prospectus referred to in section 32 or shelf prospectus referred to in section 31 or any notice, circular, advertisement or other document inviting offers from the public for the subscription or purchase of any securities of a body corporate
2(48) Indian Depository Receipt means any instrument in the form of a depository receipt created by a domestic depository in India and authorised by a company incorporated outside India making an issue of such depository receipts
2(43) Foreign Company means any company or body corporate incorporated outside India which,—

(a) has a place of business in India whether by itself or through an agent, physically or through   electronic mode;

(b) conducts any business activity in India in any other manner.

Substituted vide Companies (Amendment) Act, 2017 dated 03.01.2018 effective from 09.02.2018. To view the notification,Click Here
Refer circular 01/2017. To view the clarification,Click Here

Commencement Notification dated 09.02.2018

Enforcement Notification S.O. 3677(E) dated 07/12/2016

Enforcement Notification S.O. 902(E) dated 26/03/2014

S.O. 3156(E) Exemption Notification dated 05.08.2021

The Companies (Amendment) Act, 2017 (Effective from 03.01.2018)

General Circular 01/2017

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