Obligation of Foreign Companies regarding accounts (Sec. 594) Every foreign company shall, in every calendar year,
(a) make out a balance sheet and profit and loss account in such form, containing such particulars and including or having annexed or attached thereto such documents (including, in particular documents relating to every subsidiary of the foreign company) as under the provisions of this Act it would, if it had been a company within the meaning of. this Act, have been required to make
out and lay before the company in general meeting; and
(b) deliver three copies of those documents to the Registrar [Sec. 594(1)].
However, the Central Government may, by notification in the Official Gazette,
direct that, in the case of any foreign company or class of foreign companies, the requirements of clause (a) shall not apply or shall apply subject to such exceptions and modifications as may be specified in the notification [Provisio to Sub-section (1) of Sec. 594]
If any document as is mentioned in sub-section (1) is not in the English language, there shall be annexed to it a certified translation thereof [Sec. 594 (2)].
Further Sub-section (3) of Section 594 requires every foreign company to send to the Registrar three copies of a list in the prescribed form of all places of business established by the company in
Position Regarding World Accounts
Three copies of balance sheet and profit and loss account, including documents relating to every subsidiary of the foreign company, as submitted by it to the prescribed authority in the country of its incorporation under the provisions of the law in that country, shall be filed with the Registrar.
The world accounts shall be delivered to the Registrar within a period of nine months from the close of the financial year of the foreign company. The Registrar at
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