Foreign investment limits in telecom revised to allow greater foreign ownership subject to Indian board control and strict security safeguards. The policy raises the permitted composite foreign holding in specified telecom services subject to an overall cap counted across direct and indirect instruments, with half yearly disclosure and FIPB approval where applicable; majority of board and key executive positions must be resident Indian citizens enforced through licence and shareholders' agreements; company constitutional documents must require compliance with licence conditions, and state security safeguards restrict transfer of subscriber and user data abroad, limit remote access, permit monitoring and confer cancellation powers for breaches.
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Provisions expressly mentioned in the judgment/order text.
Foreign investment limits in telecom revised to allow greater foreign ownership subject to Indian board control and strict security safeguards.
The policy raises the permitted composite foreign holding in specified telecom services subject to an overall cap counted across direct and indirect instruments, with half yearly disclosure and FIPB approval where applicable; majority of board and key executive positions must be resident Indian citizens enforced through licence and shareholders' agreements; company constitutional documents must require compliance with licence conditions, and state security safeguards restrict transfer of subscriber and user data abroad, limit remote access, permit monitoring and confer cancellation powers for breaches.
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