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TMI BlogTransfer by way of sale of shares of a JV/WOS outside IndiaX X X X Extracts X X X X X X X X Extracts X X X X ..... y of sale to another Indian Party which complies with the provisions of Regulation 6 above, or to a person resident outside India, any share or security held by it in a JV or WOS outside India subject to the following conditions: I. the sale does not result in any write off of the investment made; II. the sale is to be effected through a stock exchange where the shares of the overseas JV/ WOS are ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or any other regulatory authority in India. (1A) (i) In the following cases, an Indian Party may disinvest, if the amount to be repatriated on disinvestment is less than the amount of the original investment: 1. where the JV / WOS is listed in the overseas stock exchange; 2. where the Indian Party is listed on a stock exchange in India and has a net worth of not less than ₹ 100 crore; 3. whe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ria specified at sub regulation (1) above, shall apply to the Reserve Bank for permission to transfer by way of sale of shares of a JV/WOS outside India which may be granted subject to such conditions as the Reserve Bank may consider appropriate. ************************** Note : 1. Has been inserted vide Notification No. G.S.R. 13(E) dated 9/10/2007 (w. e. f. the 27th day of March 2006) 2. Substi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... i) The sale does not result in any write-off of the investment made; (ii) the sale is effected through a stock exchange where the shares of the overseas Joint Venture or Wholly Owned Subsidiary are listed; (iii) if the shares are not listed on the stock exchange, and the shares are disinvested by a private arrangement, the share price is not less than the value certified by a Chartered Accountant ..... X X X X Extracts X X X X X X X X Extracts X X X X
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