379. Application of Act to foreign companies
Where not less than fifty per cent. of the paid-up share capital, whether equity or
preference or partly equity and partly preference, of a foreign company is held by one or
more citizens of India or by one or more companies or bodies corporate incorporated in India,
or by one or more citizens of India and one or more companies or bodies corporate incorporated
in India, whether singly or in the aggregate, such company shall comply with the provisions
of this Chapter and such other provisions of this Act as may be prescribed with regard to the
business carried on by it in India as if it were a company incorporated in India.