FAQs on the Companies Act, 2013 © THE INSTITUTE OF COMPANY SECRETARIES OF INDIA Disclaimer: These FAQs are academic interpretation of the provisions of the Companies Act, 2013 and rules made thereunder. Due care has been taken in the preparation of responses to reflect true intention of the law. However, the Institute shall not be responsible for any loss or damage resulting from any action taken on the basis of these responses. Date: August 19, 2014 Institute of Company Secretaries of India (iii) FAQ’s on the Companies Act, 2013 1. Whether the subsidiary of a foreign company be termed as public company or private company as per the Companies Act, 2013. In terms of MCA General Circular no. 23/2014 dated 25th June 2014, an existing company, being a subsidiary of a company incorporated outside India, registered under the Companies Act, 1956, either as private company or a public company by virtue of section 4(7) of that Act, will continue as a private company or publi