Section 376: Power to wind up foreign companies, although dissolved
This section allows for the winding up of foreign companies in India, even if they have been dissolved in their home country.
The section, clause by clause
What the section says
In plain terms
Where a body corporate incorporated outside India which has been carrying on business in India, ceases to carry on business in India, it may be wound up as an unregistered company under this Part, notwithstanding that the body corporate has been dissolved or otherwise ceased to exist as such under or by virtue of the laws of the country under which it was incorporated.
The right-hand column is written from the section text, not quoted from it, and it has no legal force. Where the two differ, the left-hand column is the law.
Amendment notes
- 1. Ins. by Act 29 of 2020, s. 52 (w.e.f. 11-2-2021).
Referred to by
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Reproduced from the official India Code print for reference. Check the current text on India Code before you rely on it, and read the section alongside its Rules. Nothing here is legal advice.