Government Relaxes Fund Raising Norms Under Companies Act, 2013
The Notification issued by MCA for foreign companies in International Financial Services Centres (IFSCs) located in a SEZ:
|Subject||Government relaxes fund raising norms under Companies Act, 2013 for foreign companies in International Financial Services Centres (IFSCs) located in a SEZ|
Government exempts applicability of sections 387 to 392 (both inclusive) of the Companies Act to the following:-
(a) foreign companies;
(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,
in connection with the offering for subscription in the securities, requirements related to the prospectus, and all matters incidental thereto in the IFSC set up in a SEZ.