No need for obtaining prior approval of FIPB / Government for increase in the amount of foreign equity within the percentage of foreign equity already approved in all cases in which the original project cost was up to Rs. 600 crore.
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No prior approval for increases in foreign equity within approved percentage streamlines investment, subject to notification and exceptions. Companies may infuse additional foreign equity as part of financial restructuring without prior FIPB/Government approval provided there is no change in the approved percentage of non resident shareholding; the company must notify the Secretariat of Industrial Assistance within thirty days of receipt of funds and allotment of shares. Cases involving an increase in the percentage of foreign equity or initial approvals granted by the designated clearance authority remain subject to prior FIPB/Government approval.
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.
No prior approval for increases in foreign equity within approved percentage streamlines investment, subject to notification and exceptions.
Companies may infuse additional foreign equity as part of financial restructuring without prior FIPB/Government approval provided there is no change in the approved percentage of non resident shareholding; the company must notify the Secretariat of Industrial Assistance within thirty days of receipt of funds and allotment of shares. Cases involving an increase in the percentage of foreign equity or initial approvals granted by the designated clearance authority remain subject to prior FIPB/Government approval.
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