https://www.taxtmi.com/circulars?id=2634 Share for share swaps via depositary receipt mechanisms are now an accepted mode of overseas direct investment and are subsumed under the prescribed overseas investment limit, subject to valuation norms and reporting to the Reserve Bank. Indian parties may pledge shares held in overseas joint ventures or wholly owned subsidiaries to overseas lenders regulated as banks to secure fund based or non fund based facilities, provided total financial commitments remain within the Reserve Bank's stipulated overseas investment limit. en-us Fri, 20 Apr 2007 00:00:00 +0530 Mon, 06 Oct 2008 12:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=2634 Share for share swaps via depositary receipt mechanisms are now an accepted mode of overseas direct investment and are subsumed under the prescribed overseas investment limit, subject to valuation norms and reporting to the Reserve Bank. Indian parties may pledge shares held in overseas joint ventures or wholly owned subsidiaries to overseas lenders regulated as banks to secure fund based or non fund based facilities, provided total financial commitments remain within the Reserve Bank's stipulated overseas investment limit. Circulars FEMA Fri, 20 Apr 2007 00:00:00 +0530 https://www.taxtmi.com/circulars?id=2634