Approval of the Reserve Bank in certain cases

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....eligibility norms under Regulations 6 or 7 or 8, may apply to the Reserve Bank for approval. ^3[(2) Application for direct investment in Joint Venture / Wholly Owned Subsidiary outside India, or by way of exchange for shares of a foreign company, shall be made in Part I of the Form ODI, as prescribed by the Reserve Bank from time to time.] ^4["(2A) An application made under sub-regulation (2....

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.... shall be accompanied by the valuation carried out by a Category I Merchant Banker registered with the SEBI or an Investment Banker / Merchant Banker registered with the appropriate regulatory authority in the host country. ] (3) The Reserve Bank may, inter alia, take into account following factors while considering the application made under sub-regulation (2): a. Prima facie viabilit....

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.... in Form ODB, as applicable." 2. Substituted vide Notification No. FEMA 314/RB-2014, dated 03-07-2014, w.e.f. 03-07-2014 before it was read as, "^1[(2) Application for direct investment in Joint Venture/Wholly Owned Subsidiary outside India, or by way of exchange for shares of a foreign company, shall be made in Part I of the Form ODI.]" 3. Substituted vide Not....