Soum Bhatt (Company Secretary) 10 January 2011
I want to know whether an Indian Holding company is required to review the operation of its foreign subsidiary company, periodically in the Board meeting or Audit committee meeting? Plz suggest the compliance regulation for a company incorporated in South Africa and USA? Is there any website in which i can get the compliance regulations of respective countries?
namrata patil (article) 27 January 2011
The review is require in Board meeting and Audit committe meeting also.
Provisions of the foreign exchange management act 1999 are to be complied with.The subsidiary has to seek permissions from RBI from time to time wherever required.
You have to also get Statutory Audit from PWC(Pricewater House Coopers) which is the Auditors co. for MNC's.They will guide you in a better way.
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