Regulation 12 - Restriction on further financial commitment or transfer - Foreign Exchange Management (Overseas Investment) Regulations, 2022

12. Restriction on further financial commitment or transfer. A person resident in India who has made a financial commitment in a foreign entity in accordance with the Act or rules or regulations made thereunder, shall not make any further financial commitment, whether fund-based or non-fund-based, directly or indirectly, towards such foreign entity or transfer such investment till any delay in reporting is regularised. AJAY KUMAR MISRA, Chief General Manager-in-Charge [ADVT.-III/4/Exty./228/2022-23]