The Companies Act, 2013
Chapter– XXII Companies Incorporated Outside India
Section 391: 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.]
Reference
| Notification No. | Notification Date | w.e.f. | Provisions brought into force |
| S.O. 902(E) | 26-03-2014 | 01-04-2014 | Sub-section 1 of Section 391 |
| S.O. 3677(E) | 07-12-2016 | 15-12-2016 | Sub-section 2 of section 391 |
1. Substituted by the Companies (Amendment) Act, 2017, w.e.f. 09.02.2018[S.O. 630(E) dated 09.02.2018]. for the sub-section:
“(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.”.
2. Notification No. S.O. 3156(E) date 05.08.2021.
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