The Ministry of Corporate Affairs (MCA) on August 05, 2021 has issued a notification specifying that Authorities exempt the following from the S. 387 and S. 392 (both inclusive) of the Companies Act, 2013.
• foreign companies.
• 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.
insofar as they relate to the offering for subscription in the securities, requirements related to the prospectus, and all matters incidental thereto in the International Financial Services Centres set up under section 18 of the Special Economic Zones Act, 2005 (28 of 2005).
