Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Tenth Amendment) Regulations, 2015 - 354/2015-RB - Foreign Exchange Management
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Composite foreign investment cap now includes all direct and indirect investments, with debt-like instruments excluded until conversion. Amendments clarify that Total Foreign Investment comprises all direct and indirect foreign investments made under the Regulations' Schedules; FCCBs and DRs with debt-like underlying instruments are excluded unless converted into equity, in which case resulting equity is counted. Schedule 1 provisos establish that sectoral caps are composite (including all foreign investment), set rules on minimum capitalization (including share premium only at time of issue to non-residents), confirm approval requirements where ownership or control transfers to non-residents, permit certain portfolio investments to avoid approval if they do not transfer ownership/control, and impose onus of compliance on the investee company.
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.
Composite foreign investment cap now includes all direct and indirect investments, with debt-like instruments excluded until conversion.
Amendments clarify that Total Foreign Investment comprises all direct and indirect foreign investments made under the Regulations' Schedules; FCCBs and DRs with debt-like underlying instruments are excluded unless converted into equity, in which case resulting equity is counted. Schedule 1 provisos establish that sectoral caps are composite (including all foreign investment), set rules on minimum capitalization (including share premium only at time of issue to non-residents), confirm approval requirements where ownership or control transfers to non-residents, permit certain portfolio investments to avoid approval if they do not transfer ownership/control, and impose onus of compliance on the investee company.
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