Section 391 - Application of sections 34 to 36 and Chapter XX - Companies Act, 2013

Application of sections 34 to 36 and Chapter XX 391. (1) The provisions of sections 34 to 36 (both inclusive) shall apply to- (i) the issue of a prospectus by a company incorporated outside India under section 389 as they apply to prospectus issued by an Indian company; (ii) the issue of Indian Depository Receipts by a foreign company. 1 [(2) Subject to the provisions of section 376, the provisions 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 in case such foreign company has raised monies through offer or issue of securities under this Chapter which have not been repaid or redeemed.] **************** Notes:- 1. Substituted vide The Companies (Amendment) Act, 2017 Dated 03-01-2018 w.e.f. 09 February, 2018, before it was read as, (2) The provisions 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.