Clause 79 - Amendment of section 391. - Companies (Amendment) Bill, 2017

Amendment of section 391. 79. In section 391 of the principal Act, for sub-section ( 2 ), the following sub-section shall be substituted, namely:- ( 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. .