Foreign investment cap increase allowed - Indian company may raise preset limit to sectoral ceiling after board and special resolutions. The amendment permits an Indian company to increase the prescribed foreign investment limit of 24 percent up to the applicable sectoral cap or statutory ceiling by first passing a resolution of its Board of Directors and subsequently passing a special resolution of its General Body; this substitutes the proviso to Schedule 2, paragraph (1), sub paragraph (4) of the FEMA (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 and takes immediate effect under powers conferred by the Act.