Overseas direct investment reporting tightened: revised Form ODI filings, annual performance reports required, and proprietary share acceptance regulated. The 2008 amendments to the ODI Regulations, effective from 1 June 2007, mandate submission of specified parts of the revised Form ODI to designated authorised dealers: Part I for applications for direct investment or share exchange, Parts I and II for filing full details and remittance reporting within prescribed periods, and Part III as an Annual Performance Report certified by statutory auditors to be filed through authorised dealers within defined timelines tied to host country audit periods. The amendments also permit proprietary concerns to accept foreign shares for fees subject to prescribed caps and substitute the ODI form annexures with detailed reporting and certification requirements.
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Overseas direct investment reporting tightened: revised Form ODI filings, annual performance reports required, and proprietary share acceptance regulated.
The 2008 amendments to the ODI Regulations, effective from 1 June 2007, mandate submission of specified parts of the revised Form ODI to designated authorised dealers: Part I for applications for direct investment or share exchange, Parts I and II for filing full details and remittance reporting within prescribed periods, and Part III as an Annual Performance Report certified by statutory auditors to be filed through authorised dealers within defined timelines tied to host country audit periods. The amendments also permit proprietary concerns to accept foreign shares for fees subject to prescribed caps and substitute the ODI form annexures with detailed reporting and certification requirements.
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