https://www.taxtmi.com/circulars?id=11624 Conversion of imported second-hand machinery is excluded from eligibility for issuance of equity or preference shares under the Government route for FDI, while all other terms of the earlier A.P. (DIR Series) Circulars remain unchanged. Authorised Dealer Category I banks must notify customers; amendments to the FEMA (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000 will follow. Directions are issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 and are without prejudice to other statutory permissions. en-us Tue, 08 May 2012 00:00:00 +0530 Tue, 08 May 2012 17:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=11624 Conversion of imported second-hand machinery is excluded from eligibility for issuance of equity or preference shares under the Government route for FDI, while all other terms of the earlier A.P. (DIR Series) Circulars remain unchanged. Authorised Dealer Category I banks must notify customers; amendments to the FEMA (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000 will follow. Directions are issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 and are without prejudice to other statutory permissions. Circulars FEMA Tue, 08 May 2012 00:00:00 +0530 https://www.taxtmi.com/circulars?id=11624