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TAKEOVER OF AN INDIAN COMPANY BY A FOREIGN COMPANY, Corporate Laws / SEBI / LLP

Issue Id: - 116953
Dated: 7-1-2021
By:- AJIT Tiwary
TAKEOVER OF AN INDIAN COMPANY BY A FOREIGN COMPANY

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Dear Expert,

One of my client is registered in Hongkong/China and a new company incorporated in india. in both of company a person (citizen of india) is a director and shareholder who was NRI last few year but during the financial year 2019-20 is became the resident as per per income tax act,

my question is that during the process of takeover there must be a foreign director and one indian director, now i am confused what will be the procedure, how i proceed because i need to take DPIIT registration.

Thanking you

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