| Date: |
01-07-2015
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| Notification No: |
Master Circular No.11/2015-16
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| Issuing Authority: |
RBI
|
| Type: |
Master Circular
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| File No: |
RBI/2015-16/41 |
| Subject: |
Master Circular on Direct Investment by Residents in Joint Venture (JV) /Wholly Owned Subsidiary (WOS) Abroad
|
RBI/2015-16/41
Master Circular No. 11/2015-16
July 01, 2015
To,
All Authorised Dealer Category - I banks
Madam / Sir,
Master Circular on Direct Investment by Residents in Joint Venture
(JV) /Wholly Owned Subsidiary (WOS) Abroad
Direct investments by residents in Joint Venture (JV) and Wholly Owned
Subsidiary (WOS) abroad are being allowed, in terms of clause (a) of sub-section
(3) of section 6 of the Foreign Exchange Management Act, 1999, (42 of 1999) read
with
Notification No. FEMA.120/RB-2004 dated July 7, 2004, (GSR 757 (E) dated
November 19, 2004), viz. Foreign Exchange Management (Transfer or Issue of Any
Foreign Security) Regulations, 2004, as amended from time to time.
- This Master Circular consolidates the existing instructions on the subject
of “Direct Investment by Residents in Joint Venture (JV) / Wholly Owned
Subsidiary (WOS) Abroad" at one place. The list of underlying circulars /
notifications, consolidated in this Master Circular, is furnished in the
Appendix. This Master Circular may be referred to for general guidance. The Authorised Persons and the Authorised Dealer Category – I banks may refer to
respective circulars/ notifications for detailed information, if so needed.
- This Master Circular is being updated from time to time as and when the fresh
instructions are issued. The date up to which the Master Circular has been
updated is suitably indicated.
Yours faithfully,
(K. Pandey)
Chief General Manager
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