Acquisition of a Foreign Company Through Bidding or Tender Procedure

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... (1) On being approached by an Indian Party, which is eligible under the Regulations to make investment outside India, an authorised dealer may allow remittance towards earnest money deposit or issue a bid bond guarantee on its behalf for participation in bidding or tender procedure for acquisition of a company incorporated outside India, ^2[(2) On the Indian party winning the bid, (i)....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....in India to issue a bid bond guarantee, subject to such terms and conditions as the Reserve Bank may stipulate. ] (4) In case the Indian Party is successful in the bid but the terms and conditions of acquisition of a company outside India are,- ^4[(a) not in conformity with the provisions of Regulations in Part I, or different from those for which approval under sub-regulation (3) was ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....port to the Reserve Bank in form ODA within 30 days of effecting the final remittance." 2. Substituted vide Notification No. FEMA 314/RB-2014, dated 03-07-2014, w.e.f. 03-07-2014 before it was read as, "(2) On the Indian Party winning the bid, i. the authorised dealer may allow further remittances towards acquisition of the foreign company, subject to the ceili....