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Section 391 – Application of sections 34 to 36 and Chapter XX

Sub-section (1) of section 391 shall come into force on 1st April, 2014 vide Notification No. S.O. 902(E) issued dated 27.03.2014 and sub-section (2) of section 391 shall come into force on 15th December, 2016 vide Notification No. S.O. 3677(E) dated 07.12.2016.

(1) The provisions of sections 34 to 36 (both inclusive) shall apply to—

(i) the issue of a prospectus by a company incorporated outside India under section 389 as they apply to prospectus issued by an Indian company;

(ii) the issue of Indian Depository Receipts by a foreign company.

(2) The provisions of Chapter XX shall apply mutatis mutandis for closure of the place of business of a foreign company in India as if it were a company incorporated in India.

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