Review of Foreign Direct Investment (FDI) Policy on Investments by Non Resident Indians (NRIs), Persons of Indian Origin (PIOs) and Overseas Citizens of India (OCIs)
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NRI definition expanded to include OCI/PIO cardholders and NRI investments under Schedule 4 FEMA treated as domestic investments. The FDI policy now defines 'Non Resident Indian' to include Indian citizens resident abroad and Overseas Citizen of India cardholders, with Persons of Indian Origin cardholders deemed OCI cardholders, and provides that investments by NRIs under Schedule 4 of FEMA will be treated as domestic investment at par with resident investments.
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.
NRI definition expanded to include OCI/PIO cardholders and NRI investments under Schedule 4 FEMA treated as domestic investments.
The FDI policy now defines 'Non Resident Indian' to include Indian citizens resident abroad and Overseas Citizen of India cardholders, with Persons of Indian Origin cardholders deemed OCI cardholders, and provides that investments by NRIs under Schedule 4 of FEMA will be treated as domestic investment at par with resident investments.
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