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FEMA - Highlights / Catch Notes

Home Highlights August 2020 Year 2020 This

Permission for Direct Investment in certain cases - direct ...


RBI Holds Sole Discretion Over Direct Investment in Foreign Ventures; Cannot Delegate to Enforcement Directorate.

August 3, 2020

Case Laws     FEMA     HC

Permission for Direct Investment in certain cases - direct investment in joint venture or wholly owned subsidiary outside India - It was for the respondent/RBI to exercise its discretion in the facts and circumstances of the case keeping in view its own permissions given and subsequent facts and events that may have taken place after the permission was given. The discretion has to be exercised by RBI. The same cannot be delegated to the Enforcement Directorate. - HC

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