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of <h1>RBI Allows Indian Listed Companies to Disinvest Overseas with Capital Write-Off up to 10% of Last Year's Exports.</h1> The Reserve Bank of India has issued a circular to authorized dealers in foreign exchange, announcing a liberalization measure for overseas direct investment. Indian listed companies are now permitted to disinvest from their joint ventures or wholly-owned subsidiaries abroad, even if it results in a capital write-off up to 10% of the previous year's export realization. This change builds on a previous circular allowing the sale of shares under the Automatic Route, provided full repatriation of the investment is achieved. Relevant amendments to the Foreign Exchange Management Regulations are forthcoming, and existing terms and conditions remain unchanged.
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