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‡ A member may hold virtually the entire
share capital of a company.
‡ Such a company is called one man
company.
‡ This can happen for both private and
public company.
‡ The other members may hold one man
each.
p amples
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‡ Foreign company is a company
incorporated in a country outside INDIA
and has a place of business in india.
‡ pven 50% of the share capital will be held
by a citizen of india.
‡ Section 592 requires that every foreign
company which establishes a place of
business in india must within 30 days of
establishment of such place of business,
file with the registrar of companies at new
delhi and also the registrar of companies
of the state in which such place of
business is situated.
 Documents
‡ A certified copy of the memorandum and
articles of association of the company.
‡ Full address of the registered office of the
company.
‡ A directors list and secretary list.
‡ Name and address of a person who is a
resident in India.
‡ Address of the principal place in India.
 Sec. 593
‡ Alteration in the documents should be filed
with the Registrar of the Company with
prescribed time.
 Sec. 594
‡ Application of the provisions regarding the
books of accounts to be kept by the
company under Sec.209.
‡ 3 copies of Balance Sheet
‡ Profit and Loss account.
‡ list of all places of business in India
 Sec. 595
‡ A foreign company to e hibit
conspicuously on the outside of every
office or place of business in India the
name of the company and µlimited¶ or
µprivate limited¶.
 Sec. 596
‡ Procedure for the services of any process
provided by the foreign company under
Registrar of Company under sec. 592.
 Sec. 597
‡ Foreign company must deliver the
documents under sec. 592
 Sec.598
‡ Provides the penalty for default in
complying with any of the foregoing
requirements.
 Sec. 599
‡ Foreign company which fails to comply
with the foregoing provisions is prohibited
from enforcing any contract by the way of
suit or counter claim. Although it will liable
to be sued in respect of any contract it
may have entered into.
 Sec. 600
‡ Application for the following sections;
‡ 124-145, 118-209, 159-160, 209A, 601-
608
 Sec. 584
‡ Provides procedure for winding up a
foreign company.
 Licensed company
‡ Licensing is the authority given by one
comapnu to other company for doing their
business for a particular period of time.
‡ Licensed company will have the suffi of
³LiCo´
 e amples
‡ AAA life insurance company.
‡ ABILITY insurance company.
‡ ACA assurance company.
Thank you