Foreign investment limits increased for Indian parties in overseas joint ventures and subsidiaries; domestic shareholding criterion removed. Amendments raise the permissible total financial commitment of an Indian party in overseas joint ventures and wholly owned subsidiaries to a uniform ceiling measured against the Indian party's net worth, replacing prior differentiated percentage limits; Explanation clauses and sub provisions are adjusted accordingly. The instrument also removes a domestic shareholding qualification from one clause and increases a separate net worth based investment threshold. The amendments are given retrospective effect from the stated commencement date and the notification clarifies no person will be adversely affected by the retrospective operation.
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Foreign investment limits increased for Indian parties in overseas joint ventures and subsidiaries; domestic shareholding criterion removed.
Amendments raise the permissible total financial commitment of an Indian party in overseas joint ventures and wholly owned subsidiaries to a uniform ceiling measured against the Indian party's net worth, replacing prior differentiated percentage limits; Explanation clauses and sub provisions are adjusted accordingly. The instrument also removes a domestic shareholding qualification from one clause and increases a separate net worth based investment threshold. The amendments are given retrospective effect from the stated commencement date and the notification clarifies no person will be adversely affected by the retrospective operation.
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