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TMI Blog2012 (4) TMI 92X X X X Extracts X X X X X X X X Extracts X X X X ..... s. 3. The only issue is whether the petitioners, who are residents of Moscow, Russia and desirous of incorporating a private limited Company in the State of Goa with its registered office at Arpora, North Goa, India should be compelled to disclose their local address or else the registration cannot be effected and granted. 4. The petitioners have set out as to why they have to approach this Court. Petitioner no. 1 is the spouse of petitioner no.2. They are (residing at Moscow and were/desirous of incorporating a Private Limited Company in the name of Olga Consultancy Services Private Limited. In the month of July, 2010, they approached the Ministry of Corporate Affairs, Government of India (DIN Cell) for the allotment of Director Identifi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ey have not made certain compliances and particularly that "the foreign subscribers have not stated their local address." I The petitioners' Advocate states that the present petition is confined only to this objection. As far as the other compliances are concerned, they are already made and if anything is required to be done, that would be done as well. 6. According to him, there is no requirement in any of the Rules and particularly Regulation 17 of the Companies Regulations, 1956 which mandates that the foreign subscribers must state their local address. It is submitted that this insistence is contrary to the provisions of Companies Act, 1956. This is also unfair, unreasonable and discriminatory action because the very same foreign subsc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rporation, they were present in India. The period of stay is more than 3 months and, therefore, they have a place of residence. It is in these circumstances, the requirement of furnishing local address is insisted by the Directorate of Revenue Intelligence and other Intelligence Agency that this compliance must be made. For all these reasons, he submits that such a condition cannot be challenged and the petition be dismissed. 8. On this material, we have heard the learned Advocates appearing for the parties. 9. With their assistance, we have perused the petition and annexures thereof and affidavits on record. We have also perused the relevant provisions of the Companies Act,. 1956. Mr. Amonkar appearing on behalf of ('the respondent was u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... required to be furnished to the Security Agency of Central Government and particularly Regional Economic Intelligence Committee. It is an inter department committee under the Ministry of Finance for coordination on economic intelligence or otherwise. Upon such submission by Shri Amonkar, we enquired as to how despite non-compliance with such requirement, a private limited company of the very foreign subscribers was registered and incorporated in the State of Maharashtra and Registrar of Companies, State of Maharashtra did not call upon the petitioners to comply with such condition, Mr. Amonkar was unable to give any answer and in fact, the affidavit of respondent is completely silent and does not deal with the averment of the Petitioners in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... officials such as Secretary, Manager etc. It was stated that they would be so appointed. It was also stated that these officers will be duly authorised by the petitioners and they would accept all notices, communications and summonses on their behalf. There is a registered office of the petitioners in the State of Goa and details thereof are duly provided including the address and that cannot be altered except in terms of the provisions of Companies Act, 1956. As far as the angle of security is concerned, there are adequate provisions in law enabling the security agencies in India to reach foreign nationals. In these circumstances, the apprehension that the foreign nationals and subscribers/shareholders of a registered company in India, wit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dress. 13. This order does not prevent the authorities, from seeking compliance by the petitioners of the other laws, but the direction shall be treated as confined to the compliance of the Companies Act, 1956 and particularly in regard to the registration and incorporation of the Companies. Equally, after the petitioners having not complied with any of the requirements enabling them to stay in India beyond stipulated period or if they are bound to be overstaying in India, necessary action in terms of the relevant laws can be initiated against them and this order does not prevent the authorities from initiating such proceedings as are permissible and in accordance with law against them. 14. The writ petition stands disposed of in aforesai ..... X X X X Extracts X X X X X X X X Extracts X X X X
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