alleryStart learning →An Indian company turns into a foreign source when foreigners hold what share?
AOne-third of directors
BOne-fourth of share capital
CMore than one-half of it
DAny foreign shareholding
Answer & Solution
Correct answer: C. More than one-half of it
Section 2(1)(j)(vi) covers a company where more than one-half of nominal share capital is held by foreign Governments, citizens or bodies.
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