Tuesday, April 16, 2013

Downstream Investments by Banks

Downstream investments made by a banking company, incorporated in India and owned and/ or controlled by non-residents under Corporate Debt Restructuring (CDR) shall not count towards indirect foreign investment. However, their 'strategic downstream investment' shall count towards indirect foreign investment. For this purpose, 'strategic downstream investments' would mean investment by these banking companies in their subsidiaries, joint ventures and associates.

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