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TMI BlogForeign Direct Investment (FDI) in India - Issue of equity shares under the FDI Scheme allowed under the Government routeX X X X Extracts X X X X X X X X Extracts X X X X ..... Investment (FDI) in India - Issue of equity shares under the FDI Scheme allowed under the Government route Attention of Authorised Dealers Category - I (AD Category - I) banks is invited to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000, notified vide Notification No. FEMA 20/2000-RB dated May 3, 2000, as amended from time to t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ries / equipments (including second-hand machineries), subject to compliance with the following conditions: (a) The import of capital goods, machineries, etc., made by a resident in India, is in accordance with the Export / Import Policy issued by the Government of India as notified by the Directorate General of Foreign Trade (DGFT) and the regulations issued under the Foreign Exchange Manageme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ubject to compliance with the following conditions: (a) Submission of FIRC for remittance of funds by the overseas promoters for the expenditure incurred; (b) Verification and certification of the pre-incorporation/ pre-operative expenses by the statutory auditor; (c) Payments should be made directly by the foreign investor to the company. Payments made through third parties citing the absen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... his circular to the notice of their constituents and customers concerned. 7. Necessary amendments to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 notified vide Notification No. FEMA 20/2000-RB dated May 3, 2000 will be issued separately. 8. The directions contained in this circular have been issued under sections 10(4) and 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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