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.
