Review of FDI Policy for permitting foreign investment in Life Insurance Corporation of India (LIC) and other modifications for further clarity of the existing FDI Policy.
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Foreign investment in LIC permitted via automatic route subject to statutory compliance and governance conditions. The FDI Policy amendments permit foreign investment in the Life Insurance Corporation of India via the automatic route subject to specified statutory compliance and governance conditions; amend core definitions of Capital, Convertible Note, Foreign Investment, Indian Company, Share Based Employee Benefits and Subsidiary; clarify Real Estate Business exclusions; bifurcate 'Other Conditions' into insurer/intermediary and LIC specific provisions including resident Indian majorities in board and key management, regulatory verification, pricing guidance for increases, and ESOP/share benefit reporting and approval requirements.
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.
Foreign investment in LIC permitted via automatic route subject to statutory compliance and governance conditions.
The FDI Policy amendments permit foreign investment in the Life Insurance Corporation of India via the automatic route subject to specified statutory compliance and governance conditions; amend core definitions of Capital, Convertible Note, Foreign Investment, Indian Company, Share Based Employee Benefits and Subsidiary; clarify Real Estate Business exclusions; bifurcate "Other Conditions" into insurer/intermediary and LIC specific provisions including resident Indian majorities in board and key management, regulatory verification, pricing guidance for increases, and ESOP/share benefit reporting and approval requirements.
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