"Electronic Mode" in definition of "Foreign Company" of the Companies Act, 2013 - Explanation in Rules
Section (2) (42) of the Companies Act, 2013 :
“foreign company” means any company or body corporate incorporated outside India which–
(a) has a place of business in India whether by itself or through an agent, physically or through electronic mode; and
(b) conducts any business activity in India in any other manner;"
The word "electronic mode" explains in the draft Rules Chapter-I, Rule 1.2(1)(k) as follows:
For the purposes of clause (42) of section 2 of the Act, the phrase ‘electronic mode’ means carrying out, business electronically including, but not limited to:-
(i) business to business and business to consumer transactions, data interchange and other digital supply transactions;
(ii) offering to accept deposits or subscriptions in India or from citizens of India;
(iii) financial settlements, web based marketing, advisory and transactional services database services and products, supply chain management;
(iv) online services such as telemarketing, telecommuting, telemedicine, education and information research; and
(v) all related data communication services,
whether conducted by e-mail, mobile devices, social media, cloud computing, document management, voice or data transmission or otherwise.