Simple, trouble free, effortless, uncomplicated, little investment - 'E-Commerce' or business through electronic modes is now a challenge for foreign companies under Companies Act, 2013.
No doubt, scope of foreign companies has increased immensely – improved definition, mergers with Indian Companies, adoption of Indian financial year and many more.
Looking at flip side of these new provisions, prior approvals from RBI, National Company Law Tribunal, audit, filing returns with ROC even for alterations, are some of the additional formalities. Failure will attract heavy penalties.
What is your opinion – Amendments will make concept more complicated or more systemic. Kindly contribute.
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