9911796707
TMI BlogForeign Exchange Management (Transfer or Issue of any Foreign Security) (Third Amendment) Regulations, 2014.X X X X Extracts X X X X X X X X Extracts X X X X ..... Exchange Management (Transfer or Issue of Any Foreign Security) Regulations 2004 ( Notification No. FEMA.120/RB-2004 dated July 7, 2004 ), as amended from time to time, (hereinafter called the Principal Regulations or the Notification), namely:- 1. Short Title Commencement:- (i) These Regulations shall be called the Foreign Exchange Management (Transfer or Issue of Any Foreign Security) (Third Amendment) Regulations, 2014. (ii) They shall come into force from the date of publication in the Official Gazette. 2. Amendment to Regulation 18 The existing Regulation 18 shall be substituted with the following, namely: 18. Pledge of Shares of Joint Venture (JV), Wholly Owned Subsidiary (WOS) and Step down Subsidiary ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n favour of an overseas lender as security for availing of the fund based and/or non-fund based facility for its Joint Venture (JV) or Wholly Owned Subsidiary (WOS) or Step Down Subsidiary (SDS) outside India. Provided that (a) The value of the facility is reckoned as financial commitment for the Indian party and the total financial commitment of the Indian party remains within the limit stipulated by the Reserve Bank from time to time for overseas direct investments in the JV / WOS; (b) The overseas lender is regulated and supervised as a bank as per the law of the host country; (c) A No Objection is obtained from the domestic lender in whose favour if charge is already created on the domestic assets; and (d) Subject to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... amended vide:- G.S.R. No. 220 (E) dated April 7, 2005, G.S.R. No. 337 (E) dated May 27, 2005, G.S.R. No. 552 (E) dated August 31, 2005, G.S.R. No. 535 (E) dated September 6, 2006, G.S.R. No.13 (E) dated January 5, 2008, G.S.R. No. 209(E) dated March 25, 2008, G.S.R. No.676 (E) dated September 24, 2008, G.S.R. No.756 (E) dated October 31, 2008, G.S.R. No.108 (E) dated February 20, 2009, G.S.R. No. 301(E) dated May 1, 2009, G.S.R. No. 441(E) dated June 23, 2009, G.S.R. No. 609(E) dated August 28, 2009, G.S.R. No. 607(E) dated August 3, 2012, G.S.R. No. 609(E) dated August 3, 2012, G.S.R. No. 947(E) dated December 31, 2012, G.S.R. No. 345(E) dated May 29, 2013, G.S.R. No. 516(E) dated July 30 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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