https://www.taxtmi.com/circulars?id=4318 Indian companies may invest beyond 400% of last audited net worth in energy and natural resources, subject to prior Reserve Bank approval for amounts in excess of 400%. AD Category I banks must refer such cases to the Reserve Bank under established procedures. Investments in overseas unincorporated oil entities require competent authority approval, certified board resolutions and ODI reporting including Annual Performance Reports; investments above 400% of net worth need Reserve Bank prior approval. Capitalization of export proceeds requires Reserve Bank approval only where realization exceeds the prescribed period. en-us Tue, 03 Jun 2008 00:00:00 +0530 Wed, 01 Oct 2008 10:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=4318 Indian companies may invest beyond 400% of last audited net worth in energy and natural resources, subject to prior Reserve Bank approval for amounts in excess of 400%. AD Category I banks must refer such cases to the Reserve Bank under established procedures. Investments in overseas unincorporated oil entities require competent authority approval, certified board resolutions and ODI reporting including Annual Performance Reports; investments above 400% of net worth need Reserve Bank prior approval. Capitalization of export proceeds requires Reserve Bank approval only where realization exceeds the prescribed period. Circulars FEMA Tue, 03 Jun 2008 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4318