Overseas Direct Investment by Registered Trust / Society

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..... ory - 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 Bank is eligible to invest in a Joint Venture or Wholly Owned Subsidi .....

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..... ent, 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 separately. 4. AD Category - I banks may bring the contents of this circul .....

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..... ur 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 like the Directorate of Enforcement, CBI etc. Society i)The Society should be registered under the Societies Registration Act, 1860. ii) The Memorandum of Association .....

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