TaxTMI 
TaxTMI 
Guarantee on Behalf of NRI Investments
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....uarantee on Behalf of NRI Investments <br>News and Press Release<br>Dated:- 11-7-2014<br><BR>Reserve Bank of India (RBI) has informed that in order to provide operational flexibility and ease the proc....
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....edures, it has been decided to permit Authorised Dealer (AD) Category-I banks to issue bank guarantee, without prior approval of the RBI, on behalf of a non-resident acquiring shares or convertible de....
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....bentures of an Indian company through open offers/delisting/exit offers, provided: i) the transaction is in compliance with the provisions of the Securities and Exchange Board of India (Substantial A....
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....cquisition of Shares and Takeover) [SEBI (SAST)] Regulations; ii) the guarantee given by the AD Category-I bank is covered by a counter guarantee of a bank of international repute. The guarantee shal....
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....l be valid for a tenure co-terminus with the offer period as required under the SEBI (SAST) Regulations. In case of invocation of the guarantee, the (AD) Category-I bank is required to submit to RBI,....
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.... a report on the circumstances leading to the invocation of the guarantee. This information was given by the Minister of State for Finance, Smt. Nirmala Sitharaman in written reply to a question in L....
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....ok Sabha today.<BR> News - Press release - PIB....