Inter-corporate investment approvals to be processed simultaneously with foreign exchange clearance, expediting overseas joint ventures. Companies making overseas equity investments beyond prescribed thresholds must obtain both foreign exchange clearance and prior Central Government permission under section 372. To avoid sequential delay, firms should submit simultaneous applications to the foreign exchange authority and the Department of Company Affairs; both will process proposals concurrently for committee consideration, with foreign exchange clearance followed by the Department's section 372 approval. The Department is also included on the review committees to facilitate coordinated consideration.
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.
Inter-corporate investment approvals to be processed simultaneously with foreign exchange clearance, expediting overseas joint ventures.
Companies making overseas equity investments beyond prescribed thresholds must obtain both foreign exchange clearance and prior Central Government permission under section 372. To avoid sequential delay, firms should submit simultaneous applications to the foreign exchange authority and the Department of Company Affairs; both will process proposals concurrently for committee consideration, with foreign exchange clearance followed by the Department's section 372 approval. The Department is also included on the review committees to facilitate coordinated consideration.
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