Government-route FDI conversion permitted for import payables and pre operative expenses, subject to valuation, timelines, pricing and tax clearance. Government route conversion into equity is permitted for import payables for capital goods and for pre operative/pre incorporation expenses, subject to compliance with import policy and FEMA import regulations, independent third party valuation and customs documentation for imports, disclosure of beneficial ownership, completion of conversion within 180 days of shipment or within the permitted retention period for advances, submission of FIRCs and auditor certification for pre operative expenses, direct payment by the foreign investor, a company special resolution, adherence to RBI pricing guidelines, and appropriate tax clearance.
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.
Government-route FDI conversion permitted for import payables and pre operative expenses, subject to valuation, timelines, pricing and tax clearance.
Government route conversion into equity is permitted for import payables for capital goods and for pre operative/pre incorporation expenses, subject to compliance with import policy and FEMA import regulations, independent third party valuation and customs documentation for imports, disclosure of beneficial ownership, completion of conversion within 180 days of shipment or within the permitted retention period for advances, submission of FIRCs and auditor certification for pre operative expenses, direct payment by the foreign investor, a company special resolution, adherence to RBI pricing guidelines, and appropriate tax clearance.
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