Reserve Bank approval required for overseas investment by Indian parties not meeting eligibility, subject to form filings and valuation requirements. Approval of Reserve Bank is required where an Indian party does not meet eligibility norms for overseas investment; applications for direct investment or share-exchange must be made in Form ODI or Form ODB. Valuation support is required: remittance-funded investments need valuations by prescribed professional valuers depending on thresholds, and acquisitions involving issuance of Indian party shares require valuation by a Category I Merchant Banker or equivalent host-country registered banker. Reserve Bank will consider viability, contribution to external trade, financial position and track record, and expertise of the parties.
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Provisions expressly mentioned in the judgment/order text.
Reserve Bank approval required for overseas investment by Indian parties not meeting eligibility, subject to form filings and valuation requirements.
Approval of Reserve Bank is required where an Indian party does not meet eligibility norms for overseas investment; applications for direct investment or share-exchange must be made in Form ODI or Form ODB. Valuation support is required: remittance-funded investments need valuations by prescribed professional valuers depending on thresholds, and acquisitions involving issuance of Indian party shares require valuation by a Category I Merchant Banker or equivalent host-country registered banker. Reserve Bank will consider viability, contribution to external trade, financial position and track record, and expertise of the parties.
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