Under section 379, a foreign company must comply with Chapter XXII and other prescribed provisions as if it were a company incorporated in India where:

Correct answer: A) Not less than fifty per cent of its paid-up share capital is held by one or more citizens of India or companies or bodies corporate incorporated in India

Explanation

Section 379 applies where not less than fifty per cent of the paid-up share capital (equity, preference or both) of a foreign company is held by citizens of India and/or companies or bodies corporate incorporated in India, singly or in aggregate. Such a company must then comply with the Chapter and other prescribed provisions for its business in India as if it were an Indian company.