Corporate guarantee restrictions: approval required when Indian investor holds majority indirect stake in step-down overseas subsidiaries. Corporate guarantees for second-generation or subsequent step-down overseas subsidiaries will be considered under the Approval Route where the Indian Party indirectly holds 51 per cent or more stake in the overseas subsidiary for which such guarantee is intended to be issued; other provisions of the earlier circular remain 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.
Corporate guarantee restrictions: approval required when Indian investor holds majority indirect stake in step-down overseas subsidiaries.
Corporate guarantees for second-generation or subsequent step-down overseas subsidiaries will be considered under the Approval Route where the Indian Party indirectly holds 51 per cent or more stake in the overseas subsidiary for which such guarantee is intended to be issued; other provisions of the earlier circular remain unchanged.
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