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Can foreign parent company enter agreement on behalf of subsidiary
11-Nov-2023 (In Corporate Law)
Can a foreign parent company enter into a contract on behalf of it's subsidiary as per the indian laws and what do we mean by X entered into the an agreement with Y (parent company) through A (subsidiary)?
A foreign company can enter into an agreement with the another company which based in India on behalf of the subsidiary which they own it. But in that case this agreement will be in between the parent company and the Indian company and not in between the subsidiary company and the Indian company. Unless the parent company has a board resolution wherein they have authorized someone to represent the subsidiary company and while signing that contract for the subsidiary company he is attaching his authorization letter in that contract. In that case that contract will be in between the subcidiary company and the indian company.
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Adv. Pulkit Prakash
Delhi | 400+ Answers
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