TaxTMI 
TaxTMI 
Review of the policy on Foreign Direct Investment- Allowing FDI in Limited Liability Partnership firms-amendment to paragraphs 2.1, 3.3.5 and 3.3.6 of ‘Circular 1 of 2011 - Consolidated FDI Policy’
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....strial Policy & Promotion (FC-I Section) Press Note No. 1(2011 Series) Review of the policy on Foreign Direct Investment- Allowing FDI in Limited Liability Partnership firms-amendment to paragraphs 2.1, 3.3.5 and 3.3.6 of 'Circular 1 of 2011 - Consolidated FDI Policy' PRESS NOTE NO. 1(2011 SERIES), DATED 20-5-2011 The Government of India has reviewed the ext....
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....permitted, subject to the following conditions: (a) FDI in LLPs will be allowed, through the Government approval route, only for LLPs operating in sectors/activities where 100 per cent FDI is allowed, through the automatic route and there are no FDI-linked performance related conditions (such as 'Non Banking Finance Companies' or 'Development of Townships, Housing....
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....ideration, received by inward remittance, through normal banking channels or by debit to NRE/FCNR account of the person concerned, maintained with an authorized dealer/authorized bank. (f) Investment in LLPs by Foreign Institutional Investors (FIIs) and Foreign Venture Capital Investors (FVCIs) will not be permitted. LLPs will also not be permitted to avail Extern....
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....artners will be responsible for compliance with all the above conditions and also liable for all penalties imposed on the LLP for their contravention, if any. (j) Conversion of a company with FDI, into an LLP, will be allowed only if the above stipulations are met and with the prior approval of FIPB/Government. (C) Renumbering of the present paragraph 3.3....