Regulation 6B - General Permission for Investment in Equity of a Company Registered Oversea - Foreign Exchange Management (Transfer or Issue of Any Foreign Security) Regulations, 2004

6B. General Permission for Investment in Equity of a Company Registered Overseas 1 A person resident in India, being 3 (***) a listed Indian company, may invest in a. the shares of an overseas company which is listed on a recognised stock exchange 5 [***] b. the rated bonds/ fixed income securities issued by companies at (a) above: Provided that- (i) in the case of investment by a listed Indian company, the investment shall not exceed 4 50% of the net worth as on the date of its last audited balance sheet; 2 Omitted 2 (ii) every transaction relating to purchase and sale of shares of the overseas company or bonds/ securities shall be routed through the designated branch of an authorised dealer in India. ************************* Notes : 1. For the words, 'A person resident in India, being an individual or a listed Indian company or a mutual fund registered in India', the words, 'A person resident in India, being an individual or a listed Indian company' has been substituted vide Notification No. 150/2006-RB dated 21/8/2006 2. Above (ii) has been omitted (iii) renumbered as (ii) vide NTF. NO. FEMA 150/2006-RB, DT. 21/08/2006 , before (ii) was read as, "in the case of investment by a Mutual Fund, the investment shall not exceed the ceiling stipulated by Securities Exchange Board of India (SEBI) from time to time;" 3. The words "an individual or" has been omitted vide Notification No. G.S.R. 13(E) dated 9/10/2007 (w. e. f. the 20th day of December 2006) 4. For the words and figures "25% of the net worth", the words and figures "35% of the net worth" has been substituted vide Notification No. G.S.R. 13(E) dated 9/10/2007 (w. e. f. the 14th day of June, 2007). Further substituted vide notification no. 173/2007 dated 19-12-200 7 with effect from 26-9-200, before substitution it was read as, "35% of its net worth". 5. The words omitted vide notification no. 173/2007 dated 19-12-200 7 with effect from 26-9-2007, before omission it was read as, "and has in its name share holding of not less than 10% in any listed Indian company as on 1st January of the year of investment".