Investment by Indian Party engaged in financial services sector now permitted to invest abroad subject to Part I regulations. The Third Amendment clarifies that Regulation 7 applies where an investment is made by an Indian Party engaged in the financial services sector, retitles Regulation 7 to Investment by Indian Party engaged in Financial Services Sector, and substitutes sub regulation (1) to permit such Indian Parties, subject to Part I Regulations, to invest in entities outside India, with retrospective effect from 6 September 2006 and a proviso that no person will be adversely affected by the retrospective application.
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.
Investment by Indian Party engaged in financial services sector now permitted to invest abroad subject to Part I regulations.
The Third Amendment clarifies that Regulation 7 applies where an investment is made by an Indian Party engaged in the financial services sector, retitles Regulation 7 to Investment by Indian Party engaged in Financial Services Sector, and substitutes sub regulation (1) to permit such Indian Parties, subject to Part I Regulations, to invest in entities outside India, with retrospective effect from 6 September 2006 and a proviso that no person will be adversely affected by the retrospective application.
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