Inter-corporate investments - Filing of applications for simultaneous approval of inter-corporate investments and Foreign Exchange Regulation Act

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..... stments and Foreign Exchange Regulation Act Indian companies desirous of setting up joint ventures or wholly-owned subsi-diaries abroad are not only required to obtain the approval of the Reserve Bank of India under the Foreign Exchange Regulation Act but are also required to obtain approval under section 372 of the Companies Act, 1956, in case their investments in the joint ventures or wholly .....

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..... he Reserve Bank of India and from the inter-corporate investment point of view in the Department of Company Affairs. After the Reserve Bank of India accords approval to the proposal, the Department of Company Affairs would also accord its approval under section 372 of the Companies Act, 1956. This simultaneous consideration would save time and help the companies to set up joint ventures or wholly .....

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