https://www.taxtmi.com/circulars?id=4155 Holding companies meeting the prescribed minimum capitalisation may form wholly foreign-owned downstream subsidiaries to conduct specified NBFC activities; those subsidiaries must divest at least 25% of equity through a public offering within the prescribed timeframe. Press Note No. 4 (1997 Series) is amended to this extent, and other NBFC guidelines issued in earlier Press Notes continue to apply. en-us Fri, 31 Mar 2000 00:00:00 +0530 Tue, 30 Sep 2008 17:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=4155 Holding companies meeting the prescribed minimum capitalisation may form wholly foreign-owned downstream subsidiaries to conduct specified NBFC activities; those subsidiaries must divest at least 25% of equity through a public offering within the prescribed timeframe. Press Note No. 4 (1997 Series) is amended to this extent, and other NBFC guidelines issued in earlier Press Notes continue to apply. Circulars FEMA Fri, 31 Mar 2000 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4155