Guarantee by Indian promoters for overseas JV or WOS allowed, subject to compliance with transfer and issue regulatory conditions. An Indian party promoting or setting up outside India a Joint Venture or a Wholly Owned Subsidiary may give guarantees to or on behalf of that JV or WOS in connection with its business, provided the terms and conditions in the Foreign Exchange Management (Transfer and Issue of Foreign Security) (Amendment) Regulations, 2004 continue to be complied with. An authorized dealer in India may also give such guarantees. The Indian party may also guarantee the obligations of the first generation step down operating company, and 'Indian Party' is defined as in the Transfer or Issue Regulations.
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.
Guarantee by Indian promoters for overseas JV or WOS allowed, subject to compliance with transfer and issue regulatory conditions.
An Indian party promoting or setting up outside India a Joint Venture or a Wholly Owned Subsidiary may give guarantees to or on behalf of that JV or WOS in connection with its business, provided the terms and conditions in the Foreign Exchange Management (Transfer and Issue of Foreign Security) (Amendment) Regulations, 2004 continue to be complied with. An authorized dealer in India may also give such guarantees. The Indian party may also guarantee the obligations of the first generation step down operating company, and 'Indian Party' is defined as in the Transfer or Issue Regulations.
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