Foreign Exchange Management Act, 1999 – Investment in Indian Venture Capital Undertakings by registered Foreign Venture Capital Investors

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..... MUMBAI - 400 001 A.P. (DIR Series) Circular No.24 January 6, 2001 To All Authorised Dealers in Foreign Exchange Dear Sirs, Foreign Exchange Management Act, 1999 - Investment in Indian Venture Capital Undertakings by registered Foreign Venture Capital Investors Attention of authorised dealers is invited to "Foreign Exchange Management (Transfer or Issue of Security by a Person Re .....

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..... 2000 (copy enclosed) to include investments by Foreign Venture Capital investors. 2. Authorised Dealers may bring the contents of this circular to the notice of their constituents concerned. 3. The directions contained in this circular have been issued under Section 10(4) and Section 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999). Any contravention or non-observance of these .....

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