Govt says 3,560 companies in India have Chinese directors

  • | Monday | 12th December, 2022

New Delhi, Dec 12 (PTI) The government on Monday said there are 3,560 companies in India that have Chinese directors.In a written reply to the Lok Sabha, Minister of State for Corporate Affairs Rao Inderjit Singh said there are 174 Chinese companies that are registered in the country as foreign companies having place of business in India with the ministry."... as per the CDM database, there are 3,560 companies in India which have Chinese directors. It is not possible to give the number of companies having Chinese investors/ shareholders as the data is not separately maintained in the MCA (Ministry of Corporate Affairs) system," he said.The Corporate Data Management (CDM) portal has been developed by the ministry as an in-house data analytics and business intelligence unit.The government has amended certain rules and forms prescribed under the Companies Act, 2013 to regulate the incorporation of companies, the appointment of directors, issuance & transfer of securities and undertaking compromise, arrangements & amalgamation in cases where Land Border Countries Entities (LBCEs) are involved."New requirements have been provided through such amendments for disclosures, in such cases, about government approval obtained under the Foreign Exchange Management (Non-debt Instruments) Rules, 2019 or for obtaining security clearance from the Ministry of Home Affairs, Government of India," the minister said. PTI RAM BAL


If You Like This Story, Support NYOOOZ

NYOOOZ SUPPORTER

NYOOOZ FRIEND

Your support to NYOOOZ will help us to continue create and publish news for and from smaller cities, which also need equal voice as much as citizens living in bigger cities have through mainstream media organizations.


Stay updated with all the Delhi Latest News headlines here. For more exclusive & live news updates from all around India, stay connected with NYOOOZ.

Related Articles