Overseas investment liberalisation permits excess energy and natural resources investment subject to prior Reserve Bank approval. Indian companies may invest beyond 400% of last audited net worth in energy and natural resources, subject to prior Reserve Bank approval for amounts in excess of 400%. AD Category I banks must refer such cases to the Reserve Bank under established procedures. Investments in overseas unincorporated oil entities require competent authority approval, certified board resolutions and ODI reporting including Annual Performance Reports; investments above 400% of net worth need Reserve Bank prior approval. Capitalization of export proceeds requires Reserve Bank approval only where realization exceeds the prescribed period.
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.
Overseas investment liberalisation permits excess energy and natural resources investment subject to prior Reserve Bank approval.
Indian companies may invest beyond 400% of last audited net worth in energy and natural resources, subject to prior Reserve Bank approval for amounts in excess of 400%. AD Category I banks must refer such cases to the Reserve Bank under established procedures. Investments in overseas unincorporated oil entities require competent authority approval, certified board resolutions and ODI reporting including Annual Performance Reports; investments above 400% of net worth need Reserve Bank prior approval. Capitalization of export proceeds requires Reserve Bank approval only where realization exceeds the prescribed period.
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