Conversion of imported second-hand machinery excluded from government route FDI equity issuance, other conditions remain in force. Conversion of imported second-hand machinery is excluded from eligibility for issuance of equity or preference shares under the Government route for FDI, while all other terms of the earlier A.P. (DIR Series) Circulars remain unchanged. Authorised Dealer Category I banks must notify customers; amendments to the FEMA (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000 will follow. Directions are issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 and are without prejudice to other statutory permissions.
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.
Conversion of imported second-hand machinery excluded from government route FDI equity issuance, other conditions remain in force.
Conversion of imported second-hand machinery is excluded from eligibility for issuance of equity or preference shares under the Government route for FDI, while all other terms of the earlier A.P. (DIR Series) Circulars remain unchanged. Authorised Dealer Category I banks must notify customers; amendments to the FEMA (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000 will follow. Directions are issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 and are without prejudice to other statutory permissions.
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