FOREIGN EXCHANGE MANAGEMENT (TRANSFER OR ISSUE OF ANY FOREIGN SECURITY) (AMENDMENT) REGULATIONS, 2004 - Foreign Exchange Management (Transfer or Issue of Any Foreign Security) Regulations, 2004
FOREIGN EXCHANGE MANAGEMENT (TRANSFER OR ISSUE OF ANY FOREIGN SECURITY) (AMENDMENT) REGULATIONS, 2004 - Foreign Exchange Management (Transfer or Issue of Any Foreign Security) Regulations, 2004
Transfer of overseas JV/WOS shares permitted subject to conditions, fair-value safeguards, repatriation timelines and Reserve Bank approval where required. Transfer of shares in an overseas JV or WOS by an Indian party is permitted subject to conditions: no write-off of the investment, sale through an ... Summary
Transfer of overseas JV/WOS shares permitted subject to conditions, fair-value safeguards, repatriation timelines and Reserve Bank approval where required.
Transfer of shares in an overseas JV or WOS by an Indian party is permitted subject to conditions: no write-off of the investment, sale through an overseas stock exchange or at not less than a CA/CPA-certified fair value if privately arranged, no outstanding entitlements from the JV/WOS, one full year of operation with audited accounts and Annual Performance Report submitted to the Reserve Bank, and absence of investigation by specified Indian authorities. Sale proceeds must be repatriated and documented to the Reserve Bank; otherwise prior Reserve Bank permission is required.
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