Foreign Direct Investment – Reporting of issue / transfer of ‘participating interest/right’ in oil fields to a non resident as an Foreign Direct Investment transaction .

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..... Reporting of issue / transfer of participating interest/right in oil fields to a non resident as an Foreign Direct Investment transaction Attention of Authorized Dealers Category I (AD Category-I) banks is invited to Regulations 9 and 10 and para 9 of Schedule I to the Foreign Exchange Management (Transfer of Issue of Security by a Person Resident outside India) Regulations, 2000 .....

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..... nk within 30 days of the transaction (receipt of consideration for issue of shares to a non resident or issue of shares to the non-resident). 2. It has now been decided, in consultation with the Government, to treat the issue / transfer of participating interest/ rights in oil fields to a non- resident as Foreign Direct Investment (FDI) transaction under the extant FDI policy and the FEMA regu .....

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..... as given in the Annex and issuance of participating interest/ rights will be reported as other category of instruments under Para 4 of Form FC-GPR. 3. Necessary amendments to the Foreign Exchange Management (Transfer of Issue of Security by a Person Resident outside India) Regulations, 2000 notified vide Notification No. FEMA 20/2000-RB dated May 3, 2000 are being notified separatel .....

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