Overseas Direct Investments by Indian Party – Rationalization / Liberalization

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..... r (AD - Category I) bank is invited to Regulation 18 and 18A of Notification No. FEMA. 120/RB-2004 dated July 7, 2004 [ Foreign Exchange Management (Transfer or Issue of any Foreign Security) (Amendment) Regulations, 2004 ] (the Notification), as amended from time to time and the provisions under A.P. (DIR Series) Circular No. 96 dated March 28, 2012. 2. In order to grant more flexibili .....

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..... nded facility to be availed of by the Indian party or by its group companies / sister concerns / associate concerns or by any of its JV / WOS / SDS (irrespective of the level) under the automatic route subject to the following: The Indian party is complying with the provisions under Regulation 6 (and Regulation 7, if applicable) of the Notification ibid for undertaking financial commitment; .....

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..... charge resulting into the domestic lender acquiring the overseas assets shall require prior approval of the Reserve Bank; and The matter relating to the setting up / acquiring the multi-layered structure of overseas entities by the Indian party, wherever applicable, is under the examination of the Reserve Bank and the decision taken in this regard shall be conveyed in due course for necessary .....

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