Acquisition of a foreign company through bidding or tender procedure

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..... h bidding or tender procedure. (1) On being approached by an Indian Party, which is eligible under the Regulations in Part I to make investment outside India, an authorised dealer may allow remittance towards earnest money deposit or issue a bid bond guarantee on its behalf for participation in bidding or tender procedure for acquisition of a company incorporated outside India, (2) On the Indian P .....

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..... ty is successful in the bid but the terms and conditions of acquisition of a company outside India are,- (a) not in conformity with the provisions of Regulations in Part I, or different from those for which approval under sub-regulation (3) was obtained, the Indian Party shall submit application in form ODI to Reserve Bank for obtaining approval for the foreign direct investment in the manner spec .....

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