Prior Permission from Reserve Bank in certain cases

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....ank in certain cases 1. Reserve Bank, on an application, may permit a person resident in India to acquire foreign securities :- ^1(a) A person resident in India being an individual may acquire foreign securities as qualification shares issued by a company incorporated outside India for holding the post of a director in the company :- provided that (i) the number of sh....

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.... with the provisions of the law for the time being in force. (d) by way of purchase by the employees/directors of an Indian promoter company of shares of a Joint Venture or Wholly Owned Subsidiary outside India of the Indian promoter company, in the field of software:- Provided that - i. the consideration for purchase does not exceed US10,000 or its equivalent per employ....