Home / Knowledge / News / Apparel/Garments / Overseas apparel etailers may have to register in India
Overseas apparel etailers may have to register in India
04
Jun '14
Overseas online apparel and fashion retailers selling in India without any physical presence in the country might have to register themselves with the Indian Government if the Ministry of Corporate Affaris under the newly formed Narendra Modi-led Government decides to literally interpret the Companies Act of 2013.
 
The new Companies Act was passed by the Indian Parliament in August last year, and some sections of the Act came into force from April 1, 2014. However, many sections, incluidng the one related to foreign companies, are yet to be implemented.
 
As per the Gazette of India issued by the Ministry of Law and Justice, Section 2(42) of the new Companies Act defines “foreign company” as any company or body corporate incorporated outside India which— (a) has a place of business in India whether by itself or through an agent, physically or through electronic mode; and (b) conducts any business activity in India in any other manner.
 
Under Chapter XXII related to ‘Companies Incorporated Outside India’, the Act states that every foreign company shall, within thirty days of the establishment of its place of business in India, deliver to the Registrar for registration—(a) a certified copy of the charter, statutes or memorandum and articles, of the company or other instrument constituting or defining the constitution of the company; (b) the full address of the registered or principal office of the company; (c) a list of the directors and secretary of the company; (d) the name and address or the names and addresses of one or more persons resident in India authorised to accept on behalf of the company service of process and any notices or other documents required to be served on the company; (e) the full address of the office of the company in India which is deemed to be its principal place of business in India; etc.
 
Section 380(2) of the same Chapter further states that “Every foreign company existing at the commencement of this Act shall, if it has not delivered to the Registrar before such commencement, the documents and particulars specified in sub-section (1) of section 592 of the Companies Act, 1956, continue to be subject to the obligation to deliver those documents and particulars in accordance with that Act.
 
Hence, if the Act is implemented in its literal spirit, overseas online apparel and fashion retailers who now ship to India without having any physical presence would have to submit their details to the Registrar of Companies.
 

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: Aptos

Information Technology | On 25th Feb 2017

Tailored Brands selects Aptos sales audit solution

Aptos, Inc., a market leader in retail technology solutions, has...

Information Technology | On 25th Feb 2017

One Jeanswear Group deploys Centric PLM suite

Centric Software, the leading PLM solution for fashion, retail,...

Courtesy: Applied DNA Sciences

Apparel/Garments | On 24th Feb 2017

SigNatureT DNA can help prevent apparel counterfeiting

SigNatureT DNA is forensic molecular tag by Applied DNA Sciences...

Interviews View All

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search