Reserve Bank approval for overseas investment required when eligibility norms are unmet; valuation and filing prerequisites apply. Reserve Bank approval is required for Indian parties not meeting eligibility norms under Regulations 6-8 for direct investment abroad; applications must be made in Part I of Form ODI and include share valuations-by a Category I Merchant Banker or host-country investment/merchant banker when above a monetary threshold or when consideration involves issue of the Indian party's shares, and otherwise by a Chartered Accountant or Certified Public Accountant. The Reserve Bank may consider viability, contribution to external trade, financial position and track record, and relevant expertise when deciding applications.