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Revealed By: Mohammad Haris
Final Up to date: December 11, 2023, 14:55 IST
A overseas firm (included outdoors India) can set up a office within the nation after complying with the necessities of RBI laws and different sectoral necessities, wherever relevant. (Picture: Shutterstock/Consultant)
No particular information is maintained concerning the particulars of enterprise actions associated to offering loans via apps by these firms, says Minister of State for Company Affairs Rao Inderjit Singh
The company affairs ministry on Monday mentioned there are 53 Chinese language overseas firms which have established a office in India, however there is no such thing as a particular information maintained about particulars of enterprise actions associated to offering loans via apps by these corporations. A overseas firm (included outdoors India) can set up a office within the nation after complying with the necessities of RBI laws and different sectoral necessities, wherever relevant.
Inside 30 days of the institution of such an workplace, it has to hunt registration with the Registrar of Corporations (RoC) (Delhi & Haryana) beneath Part 380 of the Corporations Act, 2013. In a written reply to the Lok Sabha on Monday, Minister of State for Company Affairs Rao Inderjit Singh mentioned that as per data accessible, there are 53 Chinese language overseas firms have established a office in India.
“Nevertheless, no particular information is maintained concerning the particulars of enterprise actions associated to offering loans via apps by these firms,” he added. To a different question, the minister mentioned there is no such thing as a definition of the time period ‘shell firm’ beneath the Act.
An RoC can take away an organization’s title from the official data on numerous grounds, together with that if the corporate fails to begin its enterprise inside one 12 months of incorporation. Another excuse may 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 mentioned.
Additionally, an organization’s title may be struck off if it has not made any utility inside such interval for acquiring the standing of a dormant firm. “The Registrar of Corporations removes title after following the due process given within the guidelines. Through the interval from 1/4/2021 to twenty-eight/11/2023, a complete of 1,55,217 firms have been struck off beneath part 248 (1) of the Corporations Act, 2013,” Singh mentioned.
