Register and annual returns are maintained at the registered office address which is noted with the Ministry of Corporate affairs of a company registered in India and having registered office in India. Thus the question arises what if ? the company is registered in India but has its head quarters (registered office) outside of India. Therefore it is a multinational domestic company. So, the solution to this is, if the articles of association of such a company permit the mentioned entity to maintain these legal documents at that international location (Head Quarter), only then the books may be kept there. What if the articles of association do not permit ?. Then the articles of association need to be amended and the said international registered office must be registered with the Ministry of Corporate affairs. Then such documents may be kept at that off shore location. The question again arises. Where will the books (register and annual returns) be kept if the company is registered abroad and has the registered office address in India ?. Then in such case the books would be maintained at the registered office address registered with the Ministry of Corporate affairs of India.
Here is the latest story of the city of big apple (New York). It may be because of the ongoing tariff war between the U.S and the rest that outsourcing has become expensive and the U.S is left with no other option than in house production of goods and services. Thus giving rise to the falling profit margins of the American corporations. In an import driven economy like the United States where renowned economists like Donovan have hinted towards an economic recession in 2020 such thing is a cause of awe. United States have imposed tariffs on the imports from ally nations like Japan. Even tough due to lack of skilled workforce it may be becoming difficult for the U.S to support its capitalism. Wherein procuring raw materials is itself far from reach one may not be able to think of gaining profits and moreover paying enough salaries and wages. In a laissez-faire economy like the United States the market should always remain open for its growth and development. If this situation continues then it would lead the rise in unemployment in the US. Which would be responsible for recession. Manufacturing activity will collapse because of higher lending rates of the Banks. People will not spend much as their purchasing power will drop down to a great extent. Thus those who wish to pursue business will have to buy an expensive business loan. This recession will then spread to the rest of the world and would severely hit the economies following negative interest rates. Normally the profit margins are high where there is lack of skilled population This may be the collapse of America’s capitalism due to protectionism.