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TMI BlogClosing of Foreign Subsidiary company In IndiaX X X X Extracts X X X X X X X X Extracts X X X X ..... Closing of Foreign Subsidiary company In India X X X X Extracts X X X X X X X X Extracts X X X X ..... We want to close foreign subsidiary company in India. What is the procedure and related forms that need to be filed with MCA? Reply By MARIAPPAN GOVINDARAJAN: The Reply: You have to comply with the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... provisions relating to voluntary closure under the Companies Act, 1956. Reply By Ganeshan Kalyani: The Reply: In my view Companies Act 1956 is superceded by Companies Act 2013. Reply By MARIAPPAN ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... GOVINDARAJAN: The Reply: The provisions relating to closure/winding up of the company in Companies Act, 2013 have not yet come into force. As such the Companies Act, 1956 is to be followed. Reply By ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Ganeshan Kalyani: The Reply: Thanks Sir. Noted. Reply By Mahir S: The Reply: Sir, To the best of my knowledge, there are 3 avenues for closure of foreign subsidiary in India. They are as follows ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... : * Fast track exit scheme (FTE), * transfer of shares of company and * voluntary winding up of company. The procedure under the first one above is more easier compared to the second and third ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... avenues.
Reply By MARIAPPAN GOVINDARAJAN:
The Reply:
I agree with the views of Shri S. Mahir X X X X Extracts X X X X X X X X Extracts X X X X
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