Approval of Reserve Bank in Certain Cases

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.... (1) An Indian Party which does not satisfy the eligibility norms under Regulations 6 or 7 or 8, may apply to the Reserve Bank for approval. (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 Form ODI, or in Form ODB, respectively. ^1[(2A) An application made under sub regulatio....

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....nker registered with the SEBI or an Investment Banker/Merchant Banker registered with the appropriate regulatory authority in the host country. (3) Reserve Bank may, inter alia, take into account following factors while considering the application made under sub-regulation (2) : (a) Prima facie viability of the Joint Ventue/Wholly Owned Subsidiary outside India; (b) contributi....