Foreign Investments in Asset Reconstruction Companies (ARC)

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..... nvited to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 notified by the Reserve Bank of India vide Notification No.20 dated 3rd May 2000 as amended from time to time. 2. Foreign Direct Investments in Asset Reconstruction Companies (ARCs) In consultation with Government of India, it has been decided to permit persons/ entitie .....

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..... xceed 49% of the paid up equity capital of the ARC. b. Where investment by any individual entity exceeds 10% of the paid up equity capital, ARC should comply with the provisions of Section 3(3) (f) of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). 3. Investments in Security Receipts issued by ARCs It has also been decided .....

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..... is circular to the notice of their constituents and customers concerned. 7. The direction contained in this circular has been issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and is without prejudice to permissions/approvals, if any, required under any other law. Yours faithfully, (Vinay Baijal) Chief General Manager
Circular, Trade Notice, P .....

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