Foreign Direct Investment (FDI) in India - Issue of equity shares under the FDI Scheme against legitimate dues

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..... me against legitimate dues Attention of Authorised Dealers Category I (AD Category - I) banks is invited to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000 , notified vide Notification No. FEMA 20/2000-RB dated May 3, 2000 , as amended from time to time, A.P. (DIR Series) Circular No. 15 dated October 1, 2004, and Not .....

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..... s been decided to permit issue of equity shares against any other funds payable by the investee company, remittance of which does not require prior permission of the Government of India or Reserve Bank of India under FEMA, 1999 or any rules/ regulations framed or directions issued thereunder, provided that: The equity shares shall be issued in accordance with the extant FDI guidelines on s .....

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..... route [ c.f. paragraph 3 of schedule 1 of Notification No. FEMA 20/2000-RB dated May 3, 2000 ] shall remain unchanged. 5. AD Category I banks may bring the contents of this circular to the notice of their constituents and customers concerned. 6. Reserve Bank has since amended the subject Regulations accordingly through the Foreign Exchange Management (Transfer or Issue of Security by a P .....

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