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of <h1>New Guidelines for Equity Transfer by Indian Residents Under Overseas Investment Rules, 2022: Key Conditions and Exceptions</h1> The guidelines for the transfer or liquidation of equity capital by persons resident in India (PRII) under the Foreign Exchange Management (Overseas Investment) Rules, 2022. It defines 'equity capital' and 'disinvestment' and specifies that transactions must adhere to arm's length pricing, verified by an Authorised Dealer Bank (AD bank) using internationally accepted valuation methods. The AD bank must have a board-approved policy for documentation, which may waive valuation in specific scenarios like mergers. Rule 17 details conditions for PRII to transfer equity, requiring compliance with investment limits and reporting requirements, and mandates approval for transfers due to corporate restructuring. The document also clarifies exceptions and restrictions on disinvestment and initial investments.
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