SpeakAsiaOnline Current Status

Am happy to share some good/bad news about speakasiaonline ,The company will have to pay penalty to Government of India Due to the violation of sec 591,After the payment of penalty speakasia will opt for permenent establishment in india.



What is Sec 591 ?

Companies Act 1956-Part XI, Companies incorporated outside India (Section 591-608 ) 591 Application of sections 592 to 602 to foreign companies.
Sections 592 to 602, both inclusive, shall apply to all foreign companies, that is to say, companies falling under the following two classes, namely:-

a). companies incorporated outside India which, after the commencement of this Act, establishes a place of business within India; and

b). companies incorporated outside India which have, before the commencement of this Act, established a place of business within India and continue to have an established place of business within India at the commencement of this Act.

To Read Section 592 to 597 and again from Section 599 to 602 please click here. These are various sections which are included in Sec 591.