K sai maheshk sai mahesh asked 8 months ago
1 Answers
RaviRavi Staff answered 8 months ago

Language of the rule
Provided that the provisions of this sub-rule shall not affect a company from acquiring a company incorporated outside India with subsidiaries beyond two layers as per the laws of such country
exemption is available if such layers / subsidiaries  are as per law of foreign countries
so in your case if chain comes back to india, such exemption wont be applicable

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