Swap of equity instruments permits resident-nonresident transfers subject to prescribed rules, regulations and prior government approval where applicable. Transfer by swap permits cross-border transfers between a person resident in India and a person resident outside India either as a swap of equity instruments-subject to rules prescribed by the Central Government and regulations specified by the Reserve Bank-or as a swap of equity capital of a foreign company-subject to Central Government rules including the Overseas Investment Rules, and Reserve Bank regulations. Prior Government approval must be obtained where applicable. 'Equity capital' carries the meaning given in the Overseas Investment Rules, 2022.
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.
Swap of equity instruments permits resident-nonresident transfers subject to prescribed rules, regulations and prior government approval where applicable.
Transfer by swap permits cross-border transfers between a person resident in India and a person resident outside India either as a swap of equity instruments-subject to rules prescribed by the Central Government and regulations specified by the Reserve Bank-or as a swap of equity capital of a foreign company-subject to Central Government rules including the Overseas Investment Rules, and Reserve Bank regulations. Prior Government approval must be obtained where applicable. "Equity capital" carries the meaning given in the Overseas Investment Rules, 2022.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.