Clarification on 'Indian Party'

[Khushi Khatwani]

The definition of the term 'Indian Party' does not include individuals.

So, are the Obligations of Indian Party also mandatory for individuals?

Also, what are the restrictions on an individual investing in JV/WOS abroad?

AI Summary

Clarification sought on whether FEMA, 1999 obligations for 'Indian Party' apply to individuals investing abroad. A discussion initiated by a user questioned whether the obligations of an 'Indian Party' under the Foreign Exchange Management Act (FEMA), 1999, apply to individuals, and what restrictions exist for individuals investing in joint ventures or wholly-owned subsidiaries abroad. A respondent asked for the specific act or regulation being referenced, to which the original user clarified it was FEMA. The respondent then noted that, to their knowledge, FEMA does not define the term 'Indian Party.'