TaxTMI 
TaxTMI 
Overseas Direct Investment- Liberalisation
X X X X Extracts X X X X
X X X X Extracts X X X X
....ication No.FEMA120/RB-2004 dated July 7, 2004, [Foreign Exchange Management (Transfer or Issue of Any Foreign Security) Regulations, 2004 as amended from time to time (the Notification) and A. P. (Dir Series Circular) No. 75 dated June 14, 2007. The Regulations governing overseas investments have been further liberalized, with immediate effect, as under : 2. Enhancement of limit for Overseas Dire....
X X X X Extracts X X X X
X X X X Extracts X X X X
....stments under the Automatic Route up to 400 per cent of the net worth of the Indian party, as on the date of the last audited balance sheet. 3. Portfolio Investment by Listed Indian Companies At present, listed Indian companies are permitted to invest up to 35 per cent of their net worth as on the date of its last audited balance sheet, in the equity of listed foreign companies, which are liste....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... sheet, in (i) shares and, (ii) rated bonds / fixed income securities, rated not below investment grade by accredited/registered credit rating agencies, issued by listed overseas companies. All other terms and conditions stipulated in Regulation 6B of the Notification shall remain unchanged. 4. AD Category - I banks may bring the contents of this circular to the notice of their constituents and c....