Valuation requirements tighten for overseas equity investments; specified expert valuations and disclosure required in ODI applications. Valuation and documentation requirements mandate that overseas investments by remittance be supported by share valuations: investments above a specified threshold require valuation by a Category I Merchant Banker registered with SEBI or an appropriately registered foreign investment/merchant banker; other investments may be valued by a Chartered Accountant or Certified Public Accountant. Share acquisitions paid for by issuance of the Indian party's shares must always be valued by a Category I Merchant Banker or an appropriately registered foreign banker. Form ODI applications must include the prescribed valuation reports. A new Form ODB permission permits proprietary concerns to accept foreign shares as fees subject to caps of fifty percent of fees per company and a ten percent shareholding limit per foreign company.
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Provisions expressly mentioned in the judgment/order text.
Valuation requirements tighten for overseas equity investments; specified expert valuations and disclosure required in ODI applications.
Valuation and documentation requirements mandate that overseas investments by remittance be supported by share valuations: investments above a specified threshold require valuation by a Category I Merchant Banker registered with SEBI or an appropriately registered foreign investment/merchant banker; other investments may be valued by a Chartered Accountant or Certified Public Accountant. Share acquisitions paid for by issuance of the Indian party's shares must always be valued by a Category I Merchant Banker or an appropriately registered foreign banker. Form ODI applications must include the prescribed valuation reports. A new Form ODB permission permits proprietary concerns to accept foreign shares as fees subject to caps of fifty percent of fees per company and a ten percent shareholding limit per foreign company.
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