Definition of Resident company redefined in Finance bill, 2015

THE scope of a corporate being included in the definition of a resident as per section 6 has been enlarged.
As per the changes in the provisions of section 6 of the Income Tax Act, 1961 a company shall be said to be resident in India, in any previous year, if -

(i) it is an Indian company, and
(ii) its place of business of effective management, at any time in that year, is in India.

As per the earlier provisions of the Income Tax Act, 1961, a company would be considered as a resident in case during the relevant year, the control and management of its affairs is situated wholly in India. But now the focus has been shifted on its place of effective management.
Further the place of effective management has been defined as "a place where key management and commercial decisions that are necessary for the conduct of the business of an entity as a whole are, in substance made".
Does it means that the multinational Corporates which are operating through their