Restrictions on rupee linked financial products: overseas entities with Indian equity participation require prior RBI approval to offer them. Overseas entities having direct or indirect equity participation by Indian parties shall not offer rupee linked financial products (including non deliverable trades tied to rupee exchange rates or Indian market indices) without specific prior approval of the Reserve Bank of India; any such activity under the overseas direct investment automatic route will be treated as a contravention of FEMA regulations and attract action under FEMA, 1999. Category I Authorised Dealer banks must notify their constituents.
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.
Restrictions on rupee linked financial products: overseas entities with Indian equity participation require prior RBI approval to offer them.
Overseas entities having direct or indirect equity participation by Indian parties shall not offer rupee linked financial products (including non deliverable trades tied to rupee exchange rates or Indian market indices) without specific prior approval of the Reserve Bank of India; any such activity under the overseas direct investment automatic route will be treated as a contravention of FEMA regulations and attract action under FEMA, 1999. Category I Authorised Dealer banks must notify their constituents.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
