Modi government’s big statement in Parliament, 174 Chinese companies are registered in the country, no intention of ban

Chinese Companies Registered In India: Even though the situation between India and China is becoming somewhat different from normal. Still, the Chinese company is not backing down from doing business in the country. Government of India has taken big decisions many times to ban the business of Chinese company in the country, but still some companies are working registered in India. During the winter session of Parliament, the Modi government at the Center has informed the House about this.

so many companies doing business

At present, Chinese companies are officially working in the country. The Central Government informed the House during the winter session of Parliament that there are 174 Chinese companies registered in the country, which do business with the Ministry of Corporate Affairs in India as foreign companies.

Chinese directors in 3,560 companies

According to the CDM database (Customer Data Management), there are 3,560 such companies in India, Minister of State for Corporate Affairs Rao Inderjit Singh said in a written reply to a question in the Lok Sabha. , In which there are Chinese Directors. The government said that it is not possible to tell the exact number of companies with Chinese investors or shareholders, as the data is not kept separately in the system of the Ministry of Corporate Affairs (MCA). It is known that CDM is a type of data model, the purpose of which is to present several processes in the database in an integrated manner.

amendments to the rules

According to media reports, the government said that it has amended certain rules under the Companies Act, 2013 to regulate the functioning of China companies. In this, arrangement for appointment, transfer and release of directors, undertaking agreement etc. has been made. The government said that some amendments have been made under the Foreign Exchange Management Rules – 2019. It has been made mandatory for these companies to obtain security clearance from the Ministry of Home Affairs.

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