Published By: Mohammad Haris
Last Updated: December 11, 2023, 14:55 IST
A overseas firm (included exterior India) can set up a spot of enterprise in the nation after complying with the necessities of RBI laws and different sectoral necessities, wherever relevant. (Image: Shutterstock/Representative)
No particular knowledge is maintained concerning the particulars of enterprise actions associated to offering loans by apps by these firms, says Minister of State for Corporate Affairs Rao Inderjit Singh
The company affairs ministry on Monday stated there are 53 Chinese overseas firms which have established a spot of enterprise in India, however there isn’t a particular knowledge maintained about particulars of enterprise actions associated to offering loans by apps by these corporations. A overseas firm (included exterior India) can set up a spot of enterprise in the nation after complying with the necessities of RBI laws and different sectoral necessities, wherever relevant.
Within 30 days of the institution of such an workplace, it has to hunt registration with the Registrar of Companies (RoC) (Delhi & Haryana) beneath Section 380 of the Companies Act, 2013. In a written reply to the Lok Sabha on Monday, Minister of State for Corporate Affairs Rao Inderjit Singh stated that as per info out there, there are 53 Chinese overseas firms have established a spot of enterprise in India.
(*53*)“However, no specific data is maintained about the details of business activities related to providing loans through apps by these companies,” he added. To one other question, the minister stated there isn’t a definition of the time period ‘shell company’ beneath the Act.
An RoC can take away an organization’s title from the official information on varied grounds, together with that if the corporate fails to start its enterprise inside one 12 months of incorporation. Another purpose might be that the corporate will not be carrying on any enterprise or operation for a interval of two instantly previous monetary years (has not filed their monetary statements and annual returns for a steady interval of two instantly previous monetary years), Singh stated.
Also, an organization’s title might be struck off if it has not made any software inside such interval for acquiring the standing of a dormant firm. “The Registrar of Companies removes name after following the due procedure given in the rules. During the period from 1/4/2021 to 28/11/2023, a total of 1,55,217 companies have been struck off under section 248 (1) of the Companies Act, 2013,” Singh stated.
