https://www.taxtmi.com/circulars?id=1973 The automatic route for overseas direct investment is liberalised to permit market purchases of foreign exchange for investment up to the investing company's full net worth; companies with a proven track record may invest by market purchases up to full net worth within the overall external investment ceiling in any bonafide business. Financial activities remain subject to Regulation 7, two tier investment prohibition continues, and entities on the Reserve Bank's caution/defaulter list remain ineligible for the automatic route. en-us Sat, 01 Mar 2003 00:00:00 +0530 Mon, 06 Oct 2008 14:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=1973 The automatic route for overseas direct investment is liberalised to permit market purchases of foreign exchange for investment up to the investing company's full net worth; companies with a proven track record may invest by market purchases up to full net worth within the overall external investment ceiling in any bonafide business. Financial activities remain subject to Regulation 7, two tier investment prohibition continues, and entities on the Reserve Bank's caution/defaulter list remain ineligible for the automatic route. Circulars FEMA Sat, 01 Mar 2003 00:00:00 +0530 https://www.taxtmi.com/circulars?id=1973