https://www.taxtmi.com/circulars?id=11829 The policy permits foreign airlines to invest in Indian companies operating scheduled and non scheduled air transport services up to a minority equity ceiling under the government approval route; the ceiling subsumes FDI and FII, requires compliance with SEBI's ICDR and SAST regulations, and imposes security clearances for foreign nationals and clearances for any imported technical equipment. A Scheduled Operator's Permit remains conditioned on Indian registration, principal place of business in India, specified Indian majority on the board, and substantial ownership and effective control vested in Indian nationals; the policy excludes the designated national carrier. en-us Thu, 20 Sep 2012 00:00:00 +0530 Fri, 21 Sep 2012 10:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=11829 The policy permits foreign airlines to invest in Indian companies operating scheduled and non scheduled air transport services up to a minority equity ceiling under the government approval route; the ceiling subsumes FDI and FII, requires compliance with SEBI's ICDR and SAST regulations, and imposes security clearances for foreign nationals and clearances for any imported technical equipment. A Scheduled Operator's Permit remains conditioned on Indian registration, principal place of business in India, specified Indian majority on the board, and substantial ownership and effective control vested in Indian nationals; the policy excludes the designated national carrier. Circulars FEMA Thu, 20 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/circulars?id=11829