Sumit Phadnis (Lawyer) 31 January 2009
Hello Friends,
One of our client is from Germany, wants to set up a company in India. The nationality of both directors will be Germany. My question is that which Indian legislations, rules, regulations will be applicable to them apart from Companies Act, 1956.
Awaiting your views.
Sumit P.
J Manivannan (Advocate & Consultant) 02 February 2009
Forign Exchange Management Act and Rules and Regulation of Reseve Bank of India has been applied to Forign Directors in respect of their investments into India.
A V Vishal (Advocate) 02 February 2009
Sumit:
Both directors cannot be of foriegn nationality one Indian Director is necessary if your clients want to incorporate a company in India
PALNITKAR V.V. (Lawyer) 10 February 2009
Yes one director has to be Indian
Arbind Kumar (Job) 19 February 2009
yes
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