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        FEMA

        Investment by Navratna Public Sector Undertakings (PSUs), OVL and OIL in unincorporated entities in oil sector abroad

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        Automatic route for overseas oil sector investment extended to Navratna PSUs, OVL and OIL for incorporated ventures. Navratna PSUs, ONGC Videsh Ltd and Oil India Ltd may invest in incorporated overseas joint ventures and wholly owned subsidiaries in the oil sector (e.g., exploration and drilling) if investments are duly approved by the Government of India; such investments are permitted without any limits under the automatic route, extending the prior facility for unincorporated entities, with other terms and conditions remaining unchanged.
                          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.

                                Automatic route for overseas oil sector investment extended to Navratna PSUs, OVL and OIL for incorporated ventures.

                                Navratna PSUs, ONGC Videsh Ltd and Oil India Ltd may invest in incorporated overseas joint ventures and wholly owned subsidiaries in the oil sector (e.g., exploration and drilling) if investments are duly approved by the Government of India; such investments are permitted without any limits under the automatic route, extending the prior facility for unincorporated entities, with other terms and conditions remaining unchanged.


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