Overseas investment limits for alternative funds increased, with prior SEBI approval and compliance with RBI/FEMA requirements. SEBI permits VCFs and AIFs to invest in foreign companies with an Indian connection subject to quantitative overseas limits, prohibition on using joint ventures or wholly owned subsidiaries for such investments, and mandatory compliance with FEMA and RBI guidelines; proposals for overseas investments must be submitted to SEBI for prior approval and allocations will be managed on a first come, first served basis.
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Provisions expressly mentioned in the judgment/order text.
Overseas investment limits for alternative funds increased, with prior SEBI approval and compliance with RBI/FEMA requirements.
SEBI permits VCFs and AIFs to invest in foreign companies with an Indian connection subject to quantitative overseas limits, prohibition on using joint ventures or wholly owned subsidiaries for such investments, and mandatory compliance with FEMA and RBI guidelines; proposals for overseas investments must be submitted to SEBI for prior approval and allocations will be managed on a first come, first served basis.
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