Foreign Direct Investment (FDI) in India –definition of ‘group company’

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..... I) banks is invited to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 notified by the Reserve Bank vide Notification No. FEMA. 20/2000-RB dated 3rd May 2000 , as amended from time to time. 2. The extant FDI policy has since been reviewed and it has been decided to incorporate the definition for group company as under; .....

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..... th Amendment) Regulations, 2013 which have been notified vide Notification No. FEMA.292/2013-RB dated October 4, 2013, vide G.S.R. No. 683(E) dated October 11, 2013 . 6. The directions contained in this circular have been issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999 ) and are without prejudice to permissions / approvals, if any, required un .....

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