Inter-corporate investments - Filing of applications for simultaneous approval of inter-corporate investments and Foreign Exchange Regulation Act

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Full Text of the Document

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....val of inter-corporate investments and Foreign Exchange Regulation Act Indian companies desirous of setting up joint ventures or wholly-owned subsi-diaries abroad are not only required to obtain the approval of the Reserve Bank of India under the Foreign Exchange Regulation Act but are also required to obtain approval under section 372 of the Companies Act, 1956, in case their investments in th....