Wednesday, February 15, 2017

Prohibition on Indian Party from making direct investment in countries identified by the FATF as "Non Co-operative countries and territories"

It has been decided to prohibit an Indian Party from making direct investment in an overseas entity (set up or acquired abroad directly as JV/ WOS or indirectly as step down subsidiary) located in the countries identified by the Financial Action Task Force (FATF) as "Non co-operative countries and territories" as per list available on FATF website www.fatf-gafi.org or as notified by the Reserve Bank of India from time to time.

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