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        FEMA

        Regulation 17B - Investments by Partnership Firm without Prior Approval of Reserve Bank

        Foreign Exchange Management (Transfer Or Issue of Any Foreign Security) Regulations, 2000

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        Foreign investment by partnership firms: permitted with professional membership, investment limit, and prompt reporting to central bank. Partnership firms registered under the Indian Partnership Act, 1932 providing specified professional services may invest abroad in similar foreign concerns by remittance or capitalization of fees, subject to membership of the relevant all India professional body and an annual investment ceiling of US$1 million (or equivalent). The investing firm must, through an authorised dealer, report specified firm and investment particulars to the central bank within thirty days of the investment.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Foreign investment by partnership firms: permitted with professional membership, investment limit, and prompt reporting to central bank.

                                Partnership firms registered under the Indian Partnership Act, 1932 providing specified professional services may invest abroad in similar foreign concerns by remittance or capitalization of fees, subject to membership of the relevant all India professional body and an annual investment ceiling of US$1 million (or equivalent). The investing firm must, through an authorised dealer, report specified firm and investment particulars to the central bank within thirty days of the investment.


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