Amendments in the FEMA (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000

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..... al Office Mumbai-400 001 Notification No. FEMA. 45 /2001-RB dated September 20, 2001 Published in the Official Gazette of Government of India - Extraordinary - Part-II, Section 3, Sub-Section (i) dated 19.08.2002 - G.S.R. No. 574(E) In exercise of the powers conferred by clause (b) of sub-section (3) of Section 6 and Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999) .....

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..... that the limit of 24% referred to in this paragraph may be increased up to the sectoral cap/statutory ceiling, as applicable, by the Indian company concerned by passing a resolution by its Board of Directors followed by passing of a special resolution to that effect by its General Body.' ( K. J. Udeshi) Executive Director - Notification Tax Management India - taxmanagementindia - taxmana .....

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