9911796707
TMI BlogOverseas Direct Investments – Liberalisation / Rationalisation.X X X X Extracts X X X X X X X X Extracts X X X X ..... 0/2000-RB dated May 3, 2000 [Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) Regulations, 2000] (the Notification), as amended from time to time. 2. As per the extant provisions of FEMA, an Indian party (as defined under Notification No. FEMA 120/RB-2004 dated July 07, 2004, as amended from time to time) is required to obtain prior permission of the Reserve B ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... investments in terms of Regulation 6 (Regulation 7, if applicable) of Notification No. FEMA 120/RB-2004 dated July 7, 2004, as amended from time to time. II. The host country Regulations stipulate that the investments into the country is required to be routed through a designated account. III. FCA shall be opened, held and maintained as per the regulation of the host country. IV. The remittanc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Management (Foreign Currency Accounts by a person resident in India) Regulations, 2000 are being issued separately. 5. AD - Category I banks may bring the contents of this circular to the notice of their constituents and customers concerned. 6. The directions contained in this circular have been issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act (FEMA), 1999 (42 of 19 ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
