Govt says 3,560 companies in India 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.

PTI

December 12, 2022 / 05:55 PM IST

Minister of State for Corporate Affairs Rao Inderjit Singh (File image)

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.

Read More

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Eid-ul-Fitr moon sighting highlights: Saudi Arabia, India may mark Eid same day

Eid-ul-Fitr 2022 moon sighting highlights: There is a wafer-thin chance that Muslims…

As Washington ramps up efforts to bring India on board with sanctions against Russia, U.S. treasury official on visit to Mumbai and Delhi

U.S. Assistant Secretary to discuss Russian oil purchases by India, rupee-rouble trade…

सड़क, रेल, 5G… अरुणाचल बॉर्डर से सटे तिब्‍बत में क्‍या-क्‍या गुल खिला रहा चीन, सेना ने सब बताया

Edited by दीपक वर्मा | भाषा | Updated: May 17, 2022, 1:08…

India Shelves ₹35,000 Cr Plan To Upgrade Su-30 Fighter Fleet Amid Russia-ukraine War | Mint

NEW DELHI : Several factors have shelved the Indian Air Force’s plan…