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TMI BlogOverseas Direct Investment by Registered Trust / SocietyX X X X Extracts X X X X X X X X Extracts X X X X ..... Society Attention of Authorised Dealer Category - I (AD Category - I) Banks is invited to Notification No.FEMA120/RB-2004 dated 7th July 2004 , as amended from time to time, in terms of which a company incorporated in India, or a body created under an Act of Parliament or a partnership firm registered under Indian Partnership Act, 1932, or any other entity as may be notified by the Reserve Ban ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ef General Manager, Reserve Bank of India, Foreign Exchange Department, Overseas Investment Division, Central Office, Amar Building, 5th Floor, Fort, Mumbai 400 001, for consideration. 3. Necessary amendments to the Foreign Exchange Management (Transfer or Issue of any Foreign Security), Regulations, 2004 notified vide Notification No.FEMA120/RB-2004 dated 7th July 2004 are being issued separ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... investment overseas. iii) The proposed investment should be approved by the trustee/s. iii) The Authorised Dealer bank is satisfied that the Trust is KYC (Know Your Customer) compliant and is engaged in a bonafide activity. iv) The Trust has been in existence at least for a period of three years. v) The Trust has not come under the adverse notice of any Regulatory / Enforcement agency li ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion either from the Ministry of Home Affairs, Government of India or from the relevant local authority, as the case may be, the Authorised Dealer Category - I bank should ensure that such special license / permission has been obtained by the applicant. - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Management India - taxmanagementindia - taxmanagement - taxmanageme ..... X X X X Extracts X X X X X X X X Extracts X X X X
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