Overseas Investments

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..... ular No. 66 dated January 13, 2003, in terms of which, Indian corporates and resident individuals are permitted to invest in the equity of listed foreign companies who have shareholding of at least 10 per cent in Indian companies listed on a recognised stock exchange in India. As a measure of further liberalisation, it has now been decided to permit Indian corporates and resident individuals to .....

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..... ate permission from the Reserve Bank under FEMA 1999. Accordingly, Mutual Funds desirous of availing of this facility and having the approval from SEBI for undertaking such investments, need not obtain separate approval from the Reserve Bank. 3. Monthly reporting requirement to the Reserve Bank stipulated vide A.P. (DIR Series) Circular No.96 dated April 28, 2003 would continue. 4. Necessary ame .....

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