In some cases, NRIs want to incorporate a company in India with foreign directors only.
As per Section 149(3) of the Companies Act, every company shall have at least one director who has stayed in India for a total period of 182 days or more in the previous calendar year.
As per Section 185(2) of the Companies Act, A company is allowed to provide any loan or guarantee or any security in connection with any loan taken by any person in whom any of the directors of the company is interested.
On 1st October, The government announced 7 new PLI schemes which are not part of the original program, and these schemes are provided to promote manufacturing in India. As per government officials, the PLI scheme has been very well received.
If you are about to apply for a loan or in the process of obtaining a loan for your business, this article will help you to learn about the process of creating a charge on a loan or any modification in existing charge and formalities when a charge is satisfied as given under Companies Act, 2013.
This article will give you insights into the identification, materiality thresholds, approvals, and disclosures of related party transactions given under the Companies Act, 2013 and Securities, and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (hereinafter referred to as “Listing Regulations”).
New provisions are provided for physical verification of registered office of companies vide The Companies (Incorporation) Third Amendment Rules, 2022. For this purpose, a new Rule 25B has been inserted into Companies (Incorporation) Rules, 2014.
Accordingly, a holding company is allowed to have only up to two layers of subsidiaries excluding one layer of wholly-owned subsidiaries. Parallelly, the restriction on investment through not more than two layers of investment companies also applies.
V J M & Associates LLP