FEMA

RBI Master Direction for Issue and Pricing of shares by Private Sector Bank

Fema / RBI - Relevant Provisions: Section 35A of the Banking Regulations Act, 1934, where the RBI has the power to issue any direction. Applicability: The provisions of these Directions shall apply to all the Private Banks licensed by the RBI to operate in India. Private Sector Banks: Means Banks licensed to operate in India under the Banking Regulati...

Read More

Non Resident Investing in a Indian Company – FCGPR Compliance

Fema / RBI - Non Resident Investing in a Indian Company-Compliance under FCGPR – Whether he can use his NRO Account? Present Case: A private limited is incorporated in India. Mr. X who is in US and US citizen has an NRO account in India. He wants to transfer his money from his NRO account to the company for […]...

Read More

Residential Status-FEMA Interpretation

Fema / RBI - DEFINITIONS RESIDENT & NON- RESIDENT Section 2 (v): Person Resident in India Means— (i)             a person residing in India for more than one hundred and eighty-two days during the course of the preceding financial year but does not include— (A) a person who has gone out of India or who […]...

Read More

Branch Office Set Up Process In Hungary

Fema / RBI - SETTING UP A BRANCH OFFICE IN HUNGARY  Hungary is a beautiful Country located in Central Europe. Budapest being it’s capital city, it offers good opportunities to foreign companies to set up their business in Hungary. The major advantage of doing business in Hungary in addition to its prime location, is that its Government has set [&he...

Read More

Overseas Direct Investment- Basic concepts

Fema / RBI - In this article, we have tried to focus on the basic concepts that will enlighten about achieving the technical know- how and the provisions before making such Investment....

Read More

Relax FEMA compliance due to COVID-19 pandemic: ICSI

Fema / RBI - ICSI made a representation to RBI GOvernor requesting Relaxation from compliance with provisions of Foreign Exchange Management Act, 1999 (FEMA) due to the COVID-19 pandemic. Text of the Same is as follows:- Institute of Company Secretaries of India ICSI:PFP: 2020 April 16, 2020 Shri Shaktikanta Das Governor Reserve Bank of India Central ...

Read More

Investments by NRIs as FDI and in stock changes

Fema / RBI - Non-Resident Indians (NRIs) can invest in India as per the following regulation of Foreign Exchange Management (Transfer or issue of Security by a person resident outside India) Regulations, 2000 dated May 3, 2000 as amended from time to time: i. As per Regulations 5(1), NRIs may invest in shares/Compulsorily Convertible Preference Shares...

Read More

Draft ‘Fugitive Economic Offenders Bill, 2017’ -Govt invite comments

Fema / RBI - It is widely felt that the spectre of high-value economic offenders absconding from India to defy the legal process seriously undermines the rule of law in India. It is, therefore, felt necessary to provide an effective, expeditious and constitutionally permissible deterrent to ensure that such actions are curbed....

Read More

NHAI Masala Bond Launched at London Stock Exchange

Fema / RBI - The Union Minister of Road Transport & Highways and Shipping Shri. Nitin Gadkari yesterday launched the NHAI Masala Bond issue at the London Stock Exchange. The NHAI issue witnessed an overwhelming response from a wide range of investors, some of them being first timers to participate in the Masala Bond market....

Read More

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....

Read More

HC: No evidentiary value of statement which was retracted later

Manak Kala Vs Union of India & Anr. (Delhi High Court) - Assessee could not be held guilty for violation of provisions of Section 9(1)(b) of FERA, on the sole basis of the statement of Sh. Ashish Jain, which was retracted later on as none of the orders of the authorities, namely, the Adjudicating Authority, the Appellate Authority or the Tribunal refer to...

Read More

SC held provisions of Section 45(1) of PMLA provision Imposing Twin Condition for granting Bail as unconstitutional

Nikesh Tarachand Shah Vs. Union Of India & Anr. (Supreme Court of India) - SC held that Section 45(1) of the Prevention of Money Laundering Act, 2002, insofar as it imposes two further conditions for release on bail, to be unconstitutional as it violates Articles 14 and 21 of the Constitution of India. ...

Read More

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

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...

Read More

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...

Read More

Foreign Exchange Management (Non-debt Instruments) (Second Amendment) Rules, 2020

Notification No. S.O. 1374(E) - (27/04/2020) - Acquisition after renunciation of rights.- A person resident outside India who has acquired a right  from a person resident in India who has renounced it may acquire equity instruments (other than share warrants) against the said rights as per pricing guidelines specified under rule 21 of these rul...

Read More

Foreign Exchange Management (Non-debt Instruments) Amendment Rules, 2020

[F. No. 01/05/EM/2019-Part (1)] [S.O. 1278 (E)] - (22/04/2020) - Provided that an entity of a country, which shares land border with India or the beneficial owner of an investment into India who is situated in or is a citizen of any such country, shall invest only with the Government approval:...

Read More

Foreign Exchange Management (Foreign Exchange Derivative Contracts) (First Amendment) Regulations, 2020

Notification No. FEMA.398/RB-2020 - (18/02/2020) - i. These Regulations may be called the Foreign Exchange Management (Foreign Exchange Derivative Contracts) (First Amendment) Regulations, 2020. ii. These regulations shall come into force from the date of their publication in the Official Gazette....

Read More

Foreign Exchange Management (Non-debt Instruments) (Amendment) Rules, 2019

Notification No. S.O. 4355(E) - (05/12/2019) - (1) These rules may be called the Foreign Exchange Management (Non-debt Instruments) (Amendment) Rules, 2019. (2) These rules shall be deemed to have come into force on the 17th October, 2019, except items (i), (ii), (iii), (iv), (v) and (vii) of rule 6 which shall come into force on the date of the...

Read More

RBI relaxes provisions for operation/Opening of SNRR Account

RBI/2019-20/102 A.P. (DIR Series) Circular No. 09 - (22/11/2019) - With a view to promote the usage of INR products by persons resident outside India, it has been decided, in consultation with the Government of India, to expand the scope of SNRR Account by permitting person resident outside India to open such account for:...

Read More

Recent Posts in "FEMA"

RBI Master Direction for Issue and Pricing of shares by Private Sector Bank

Relevant Provisions: Section 35A of the Banking Regulations Act, 1934, where the RBI has the power to issue any direction. Applicability: The provisions of these Directions shall apply to all the Private Banks licensed by the RBI to operate in India. Private Sector Banks: Means Banks licensed to operate in India under the Banking Regulati...

Read More
Posted Under: Corporate Law |

Non Resident Investing in a Indian Company – FCGPR Compliance

Non Resident Investing in a Indian Company-Compliance under FCGPR – Whether he can use his NRO Account? Present Case: A private limited is incorporated in India. Mr. X who is in US and US citizen has an NRO account in India. He wants to transfer his money from his NRO account to the company for […]...

Read More
Posted Under: Corporate Law |

Residential Status-FEMA Interpretation

DEFINITIONS RESIDENT & NON- RESIDENT Section 2 (v): Person Resident in India Means— (i)             a person residing in India for more than one hundred and eighty-two days during the course of the preceding financial year but does not include— (A) a person who has gone out of India or who […]...

Read More
Posted Under: Corporate Law |

Branch Office Set Up Process In Hungary

SETTING UP A BRANCH OFFICE IN HUNGARY  Hungary is a beautiful Country located in Central Europe. Budapest being it’s capital city, it offers good opportunities to foreign companies to set up their business in Hungary. The major advantage of doing business in Hungary in addition to its prime location, is that its Government has set [&he...

Read More
Posted Under: Corporate Law |

Overseas Direct Investment- Basic concepts

In this article, we have tried to focus on the basic concepts that will enlighten about achieving the technical know- how and the provisions before making such Investment....

Read More
Posted Under: Corporate Law |

Study on Valuation & Valuer under Companies Act, SEBI & FEMA

In order to have a uniformity in the recognition of organisation of valuers and the process of valuation of various assets of the organisation, the MCA has introduced for the valuation of any property, stocks, shares, debentures, securities or goodwill or any other assets or net worth of a company or its liabilities....

Read More
Posted Under: Corporate Law |

Compounding of Contraventions Under FEMA

INTRODUCTION: There are various laws in India and amended time to time for the benefits of stakeholders. As a result most of the people by mistake contravene various provisions of law. So Government has provided compounding of offence under FEMA to make default good. A person suo-moto accepts its contravention and apply for compounding of...

Read More
Posted Under: Corporate Law |

Analysis of Foreign Exchange Management (Non debt Instruments) (Second Amendment) Rules 2020

Introduction The Ministry of Finance (Department of Economic Affairs) has notified the Foreign Exchange Management (Non-Debt Instruments) Rules, 2019 dated 17 October 2019 (Principal Rules) in supersession of erstwhile Foreign Exchange Management (Transfer of Issue of Security by a Person Resident outside India) Regulations, 2017 and the ...

Read More
Posted Under: Corporate Law |

Evolution of Foreign Exchange Regulation in India

Scarcity of Foreign Exchange in India led to its control since the beginning of World War II. Exchange control was introduced in India under the Defence of India Rules on September 3, 1939 on a temporary basis. The statutory power for exchange control was provided by the Foreign Exchange Regulation Act (FERA) of 1947....

Read More
Posted Under: Corporate Law |

Establishment of Branch/ Liaison/Project Office in India by Foreign Entities

Establishment of Branch Office (BO)/ Liaison Office (LO)/ Project Office (PO) in India by Foreign Entities India has largest and fastest developing market in the world and has finest human resource in the world. India is also promoting foreign entity to setup his BO/LO/PO in India. ♦ Branch Office: Brach office can carry same activities...

Read More
Posted Under: Corporate Law |

Browse All Categories

CA, CS, CMA (4,699)
Company Law (6,010)
Custom Duty (7,752)
DGFT (4,227)
Excise Duty (4,364)
Fema / RBI (4,190)
Finance (4,397)
Income Tax (33,119)
SEBI (3,463)
Service Tax (3,553)

Search Posts by Date

June 2020
M T W T F S S
1234567
891011121314
15161718192021
22232425262728
2930