fema

Types of Foreign Currency Accounts that can be maintained in India

Fema / RBI - This article states the type of foreign currency accounts that can be opened, maintained and held in India subject to the conditions laid down by RBI....

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Establishment of Branch/Liaison/Project Office or any Place of Business in India by Foreign Entities

Fema / RBI - This article states the establishment requirements for Branch office, Project office and liaison office in India as per FEMA, 1999 and Companies Act 2013....

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Residential Status under Income Tax Act & FEMA & Bank Accounts for NRIs

Fema / RBI - A Brief Note on Residential Status Of A Person Based On Provisions Of The Income Tax Act and Foreign Exchange Management Act And Banking Accounts for Non-Resident Indians...

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Core Investment Company

Fema / RBI -  This Concept was originated in order to safeguard NBFCs which are formed for group investments from stringent RBI procedures. Core Investment Companies, (CIC) are those companies which have their assets predominantly as investments in shares for holding stake in group companies but not for trading, and also do not carry on any other fin...

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Regulations Governing NRI Investment in India

Fema / RBI - In today’s time when we tend to move out of India for job opportunities but invest some amounts in our own country we need to know various regulations which govern our investments. The major requirements by RBI on NRI investments in India are discussed in this article...

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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...

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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....

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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....

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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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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. ...

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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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RBI liberalises ECB policy on Rupee denominated bonds

RBI/2018-19/48 A.P. (DIR Series) Circular No.9 - (19/09/2018) - It has been decided, in consultation with the Government of India, to liberalise some aspects of the ECB policy including policy on Rupee denominated bonds as indicated below:...

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Risk Management and Inter-bank Dealings: Revised guidelines

RBI/2017-18/134 A. P. (DIR Series) Circular No. 18 - (26/02/2018) - Risk Management and Inter-bank Dealings: Revised guidelines relating to participation of a person resident in India and Foreign Portfolio Investor (FPI) in the Exchange Traded Currency Derivatives (ETCD) Market...

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PML (Maintenance of Records) Sixth Amendment Rules, 2017

Notification No. G.S.R. 1318(E) - (23/10/2017) - Provided also that in case the officially valid document presented by a foreign national does not contain the details of address, in such case the documents issued by the Government departments of foreign jurisdictions and letter issued by the Foreign Embassy or Mission in India shall be accepted as...

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PML (Maintenance of Records) Fifth Amendment Rules, 2017

Notification No. 6/2017 - (16/10/2017) - Obtaining a certified copy by reporting entity shall mean comparing the copy of officially valid document so produced by the client with the original and recording the same on the copy by the authorized officer of the reporting entity in a manner prescribed by the regulator....

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Facilities for Hedging Trade Exposures invoiced in Indian Rupees

RBI/2017-18/75 A.P. (DIR Series) Circular No. 08 - (12/10/2017) - To hedge the currency risk arising out of genuine trade transactions involving exports from and imports to India, invoiced in Indian Rupees, with AD Category I banks in India....

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Recent Posts in "fema"

Types of Foreign Currency Accounts that can be maintained in India

This article states the type of foreign currency accounts that can be opened, maintained and held in India subject to the conditions laid down by RBI....

Read More
Posted Under: Fema / RBI |

RBI liberalises ECB policy on Rupee denominated bonds

RBI/2018-19/48 A.P. (DIR Series) Circular No.9 (19/09/2018)

It has been decided, in consultation with the Government of India, to liberalise some aspects of the ECB policy including policy on Rupee denominated bonds as indicated below:...

Read More

Establishment of Branch/Liaison/Project Office or any Place of Business in India by Foreign Entities

This article states the establishment requirements for Branch office, Project office and liaison office in India as per FEMA, 1999 and Companies Act 2013....

Read More
Posted Under: Fema / RBI |

Residential Status under Income Tax Act & FEMA & Bank Accounts for NRIs

A Brief Note on Residential Status Of A Person Based On Provisions Of The Income Tax Act and Foreign Exchange Management Act And Banking Accounts for Non-Resident Indians...

Read More
Posted Under: Fema / RBI |

Core Investment Company

 This Concept was originated in order to safeguard NBFCs which are formed for group investments from stringent RBI procedures. Core Investment Companies, (CIC) are those companies which have their assets predominantly as investments in shares for holding stake in group companies but not for trading, and also do not carry on any other fin...

Read More
Posted Under: Fema / RBI |

Regulations Governing NRI Investment in India

In today’s time when we tend to move out of India for job opportunities but invest some amounts in our own country we need to know various regulations which govern our investments. The major requirements by RBI on NRI investments in India are discussed in this article...

Read More
Posted Under: Fema / RBI |

Opening Of Liaison Office In India By Foreign Entity

Liaison Office: Foreign Investor or Foreign companies can open a liaison office in India for promoting and facilitating the parent company business activities and can act as best communication channel between the foreign parent company and Indian company. With the liaison office, the foreign parent company will get help in entering into I...

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Posted Under: Fema / RBI |

Foreign Venture Capital Investors And Related Regulations

Venture Capital is a type of seed funding in which investment is made at the initial growing stage of ventures. It is a financing to small and start-up ventures, which has high risk and potential to develop near future. The Venture Capital Investors are generally put their funds in those companies, which are with new ideas, innovations an...

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Posted Under: Fema / RBI |

Single Master Form for reporting of Foreign Investment Received

This article is in regards to the newly introduced reporting structure (Single Master Form herein referred thereafter SMF) by Reserve Bank of India (herein referred thereafter RBI) for the reporting of all Foreign Investments so received by Indian Entities....

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Posted Under: Fema / RBI |

Single Master Form for Reporting of Foreign investment in India

To make it convenient, ease of doing business RBI will introduce a Single Master Form (SMF) subsuming all the existing reports. The focus of RBI is on integrating the foreign direct investment reporting system and RBI has introduced TWO FORMS for this....

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Posted Under: Fema / RBI |

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