Dear All,
what are the provisions available in the company act to convert the foreign company into indian company.. whether FEMA provision also applicable to it.????
Case Study: Foreign Company "X" has given loan to Indian Company "Y" a long time back. After that promoters of Company "Y" have transfer all their interest to Company "X" as their were not able to repay the loan amount. now my question is can Indian Company "Y" today executed the share transfer deed to Company "X". What are the compaliance need to be follow as per company act.
Whether FEMA provisions applicable to it since there is no movement of funds.??
Further, If Indian Company "Z" taken control over Foreign company "X". then can Company Y (Indian) can transfer share to Company "Z".Fema provisions also apply to it.
