fema

Applicability of various laws on non-convertible debentures (NCD)

Fema / RBI - The Reserve Bank of India, has given the final guidelines to the agencies dealing in securities and money market instruments regarding issuance of Non-Convertible Debentures (NCDs) of original or initial maturity up to one year....

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Guide to Setting up Branch Office in India by Foreign National

Fema / RBI - Two copies of the Certificate of Incorporation / Registration, Memorandum & Articles of Association of parent company duly attested by the Notary Public in the country of registration [If the original Certificate is in a language other than in English...

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Guide to Foreign National to do business in India

Fema / RBI - Foreign National have to decide in what form it wants to do business in India keeping in mind the Pros or Cons of each type of available option along with the its requirement. A branch office is not allowed to carry out manufacturing activities on its own but is permitted to subcontract these to an Indian manufacturer. Branch Offices esta...

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Need for amendment in Section 206AA for non-resident investors of ‘Masala bonds’

Fema / RBI - Non-resident investors have recently shown a great deal of interest in subscribing to Masala Bonds issued by Indian corporates. Masala Bonds is the informal name of Rupee-denominated bonds (RDB) issued by Indian corporates outside India. ...

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Understanding Basic Terms NRI/PIO/OCI & Steps to Start a Business In India

Fema / RBI - To understand how to start a business in India if you are an NRI/PIO/OCI, we should firstly get well conversant with the meaning of the terms NRI/PIO/OCI. Difference between NRI/PIO/OCI...

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SIT directs ED to take action against Export Companies

Fema / RBI - SIT directs Enforcement Directorate to take necessary action under FEMA with respect to 216 Companies for the period before 1st March, 2016 and against 572 Companies for the period after 1st March, 2016 for which each such Company had export proceeds pending for realisation for more than Rs. 100 crore....

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NRIs can now join & subscribe to NPS online through eNPS

Fema / RBI - NRIs have a pivotal role to play in the Indian economy. India has the second-largest Diaspora in the world, with around 29 million people living in over 200 countries and out of these 25% live in the Gulf countries. Most of the Indians going to the Gulf and some other countries go for employment and return to India after having worked abr...

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Review of FDI Policy on investments by NRIS, PIOs, OCIs

Fema / RBI - Review of Foreign Direct Investment (FDI) Policy on investments by Non-Resident Indians (NRIs), Persons of Indian Origin (PIOs) and Overseas Citizens of India (OCIs) The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has given its approval to review of Foreign Direct Investment (FDI) Policy on investments by Non-Resident...

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Relaxation in Rules for Foreign Investors in Exchange Traded Currency Derivatives

Fema / RBI - In terms of Reserve Bank of India’s A.P. (DIR Series) Circular No. 91 dated march 31, 2015 and SEBI’s CIR/MRD/DP/04/2015 dated April 8, 2015 following relaxations have been made: • Foreign Portfolio Investors (FPIs) have been allowed to take positions (long as well as short) in USD-INR pair up to USD 15 million per exchange [&hellip...

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REITs approved as eligible financial instrument / structure under FEMA

Fema / RBI - Introduction of Real Estate Investment Trusts (REITs) as an eligible financial instrument / structure under Foreign Exchange Management Act (FEMA) 1999 The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has given its approval to allow the Real Estate Investment Trusts (REITs) as an eligible financial instrument / structu...

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PML Act, 2002 Provisions cannot be invoked Retrospectively

M/s Obulapuram Mining Company Pvt Ltd Vs Joint Director (Karnataka High Court) - By consent of the learned advocates appearing for the parties, all these writ petitions are taken up for hearing together, as similar questions of law are involved in these writ petitions, in order to avoid a conflicting judicial opinion. We are also informed that facts are, almost, identical....

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Members cannot be appointed part-time to Fema Tribunal

Union Of India And Others Vs S. Srinivasan (Supreme Court of India) - Rule 2 (1) (b) provides the qualification to be a Member. Needless to say, the same is in total accord with the Act. The first proviso to Rule 5 introduces part time Member. We have held that the said proviso, as far as it introduces the concept of part time Member, is contrary to the provision cont...

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FEMA – Claim for interest in the nature of compensation for wrongful retention of money is not maintainable

Directorate Of Enforcement Vs. Subhash Muljimal Gandhi (Delhi High Court) - Directorate of Enforcement Vs. Subhash Muljimal Gandhi ( Delhi HC)- that interest at the rate of 6% per annum under Rule 8 could have been awarded to the respondent on the seized Indian currency only. The learned Single Judge has however applying the said Rule also awarded interest on the seized fo...

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SC asks Ketan Ketan Parikh and Co to Deposit deposit 50 percent of penalty imposed for Fema violations

Ketan V. Parekh Vs. Special Director, Directorate of Enforcement and another (Supreme Court of India) - Ketan V. Parekh Vs. Special Director, Directorate of Enforcement and another (Supreme Court)- Ketan Parikh, Kartik Parikh and M/s. Panther Fincap and Management Services Ltd, were imposed a penalty of Rs. 80 Crores, 12 Crores and 40 Crores respectively by the Special Director of Enforcement, Mumbai ...

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Section 45(1A) of the Prevention of Money Laundering Act, 2002 – Binod Kumar Versus State of Jharkhand & Others

Binod Kumar Versus State of Jharkhand & Others- In the impugned judgment, it is mentioned that the basic allegation is amassing of illicit wealth by various former Ministers, including a former Chief Minister of the State. The money alleged to have been so earned is of unprecedented amounts. However...

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Draft guidelines of Simplified Hedging Facility for Residents & Non-Residents

Press Release : 2016-2017/2759 - (12/04/2017) - RBI today released draft guidelines of Simplified Hedging Facility for Residents and Non-Residents which permits dynamic hedging of currency risk and simplifies the procedure involved in booking hedge contracts....

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Multilateral and Regional Financial Institutions permitted to invest in Rupee denominated bonds overseas

RBI/2016-17/233 A. P. (DIR Series) Circular No.31 - (16/02/2017) - In order to provide more choices of investors to Indian entities issuing Rupee denominated bonds abroad, it has been decided to also permit Multilateral and Regional Financial Institutions where India is a member country, to invest in these Rupee denominated bonds....

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Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Eighteenth Amendment) Regulations, 2016

Notification No FEMA 381/2016-RB - (07/12/2016) - These Regulations may be called the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Eighteenth Amendment) Regulations, 2016....

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Prevention of Money-laundering (Appeal) Amendment Rules, 2016

Notification No. 5/2016 - (06/12/2016) - 1. (1) These rules may be called the Prevention of Money-laundering (Appeal) Amendment Rules, 2016. (2) They shall come into force on the date of their publication in the Official Gazette....

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Reg. Limit for acceptance of cash from Foreign Tourist

RBI/2016-17/113 A.P. (DIR Series) Circular No. 16 - (09/11/2016) - At international airports, for arriving and departing passengers, who possess specified bank notes, the value of which does not exceed five thousand rupees to exchange them for notes which are legal tender;...

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Recent Posts in "fema"

Applicability of various laws on non-convertible debentures (NCD)

The Reserve Bank of India, has given the final guidelines to the agencies dealing in securities and money market instruments regarding issuance of Non-Convertible Debentures (NCDs) of original or initial maturity up to one year....

Read More
Posted Under: Fema / RBI |

Draft guidelines of Simplified Hedging Facility for Residents & Non-Residents

Press Release : 2016-2017/2759 (12/04/2017)

RBI today released draft guidelines of Simplified Hedging Facility for Residents and Non-Residents which permits dynamic hedging of currency risk and simplifies the procedure involved in booking hedge contracts....

Read More

Guide to Setting up Branch Office in India by Foreign National

Two copies of the Certificate of Incorporation / Registration, Memorandum & Articles of Association of parent company duly attested by the Notary Public in the country of registration [If the original Certificate is in a language other than in English...

Read More
Posted Under: Fema / RBI |

Guide to Foreign National to do business in India

Foreign National have to decide in what form it wants to do business in India keeping in mind the Pros or Cons of each type of available option along with the its requirement. A branch office is not allowed to carry out manufacturing activities on its own but is permitted to subcontract these to an Indian manufacturer. Branch Offices esta...

Read More
Posted Under: Fema / RBI |

Need for amendment in Section 206AA for non-resident investors of ‘Masala bonds’

Non-resident investors have recently shown a great deal of interest in subscribing to Masala Bonds issued by Indian corporates. Masala Bonds is the informal name of Rupee-denominated bonds (RDB) issued by Indian corporates outside India. ...

Read More
Posted Under: Fema / RBI |

Understanding Basic Terms NRI/PIO/OCI & Steps to Start a Business In India

To understand how to start a business in India if you are an NRI/PIO/OCI, we should firstly get well conversant with the meaning of the terms NRI/PIO/OCI. Difference between NRI/PIO/OCI...

Read More
Posted Under: Fema / RBI |

PML Act, 2002 Provisions cannot be invoked Retrospectively

M/s Obulapuram Mining Company Pvt Ltd Vs Joint Director (Karnataka High Court)

By consent of the learned advocates appearing for the parties, all these writ petitions are taken up for hearing together, as similar questions of law are involved in these writ petitions, in order to avoid a conflicting judicial opinion. We are also informed that facts are, almost, identical....

Read More

Foreign Direct Investment in LLP

In this Flash editorial, the auditor begins by referring the powers of RBI for amendment in Regulation, 2000. The main thrust of the article, however, is upon the provisions / regulations of Foreign Direct Investment in Limited Liability Partnership ...

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Posted Under: Fema / RBI |

Know more on Overseas Direct Investment (ODI) with more & more Indian Co.’s going global

ODI primarily refers to a situation in which an Indian party is willing to acquire stake or some other form of a financial commitment, partially or wholly, in an overseas company....

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Posted Under: Fema / RBI |

FAQs on Foreign Investments in India

These FAQs attempt to put in place the common queries that users have on the subject in an easy to understand language. However, for conducting a transaction, the Foreign Exchange Management Act, 1999 (FEMA) and the Regulations made or directions issued thereunder may be referred to. The relevant principal regulations are the Foreign Exch...

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Posted Under: Fema / RBI |
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