Wednesday, October 15, 2014

Issue of equity shares under the FDI Scheme against legitimate dues

The Reserve Bank of India has decided to to permit issue of equity shares against any other legitimate dues payable by the investee company, remittance of which does not require prior permission of the Government of India or Reserve Bank of India under FEMA, 1999 or any rules/ regulations framed or directions issued there under subject to extant FDI guidelines on sectoral caps, pricing guidelines etc. And net of applicable taxes.

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