Downstream investment by a banking company incorporated in India, which is owned and/or controlled by non-residents/ a non-resident entity/non-resident entities - Insertion of a Note below paragraph 3.10.4.1 of 'Circular 1 of 2012-Consolidated FDI Policy'

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..... Industrial Policy & Promotion (FC-I Section) Press Note No.2 (2012 Series) Subject: Downstream investment by a banking company incorporated in India, which is owned and/or controlled by non-residents/ a non-resident entity/non-resident entities - Insertion of a Note below paragraph 3.10.4.1 of 'Circular 1 of 2012-Consolidated FDI Policy' 1.0 Present Position: 1.1 Paragraph 3.10.4.1 of 'Circu .....

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..... companies which are 'owned and controlled' by resident Indian citizens and/or Indian Companies which are owned and controlled by resident Indian citizens. (b) For cases where condition (a) above is not satisfied or if the investing company is owned or controlled by 'non-resident entities', the entire investment by the investing company into the subject Indian Company would be considered as indir .....

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..... s below: Note: Downstream investment/s made by a banking company, as defined in clause (c) of section 5 of the Banking Regulation Act, 1949, incorporated in India, which is owned and/or controlled by non-residents/ a non-resident entity/non-resident entities, under Corporate Debt Restructuring (CDR), or other loan restructuring mechanism, or in trading books, or for acquisition of shares due to d .....

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