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Fema / RBI : RBI new circular allows resident individuals to remit funds to IFSCs for all permissible LRS purposes, boosting financial services...
Fema / RBI : FLA return is annual return required to be submitted by following entities which have received FDI and/or made FDI abroad (i.e. ov...
Fema / RBI : Gain insight into the RBI circular clarifying overseas investment rules for resident individuals and listed Indian companies, incl...
Fema / RBI : Discover RBI's rules on carrying cash & foreign currency when traveling to/from India. FAQs cover limits, exceptions, and complian...
Finance : Understand the legal framework, regulations, and licensing requirements outlined in the IFSCA Banking Handbook General Directions ...
Fema / RBI : Explore the latest Foreign Direct Investment (FDI) policy amendments in Indias space sector. Understand the changes in caps, entry...
Finance : Ministry of Finance announces groundbreaking policy allowing Indian companies to list on GIFT IFSC, unlocking global capital, boos...
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Finance : Crypto Assets are borderless, require international collaboration to prevent regulatory arbitrage Under PMLA, Rs. 936 crore relate...
Income Tax : Directorate of Enforcement cannot sit over the seized assets, and the failure to release them is a violation of Section 132B of th...
Fema / RBI : Assessee-company was engaged in the business of providing unsecured short-term loans to its customers/borrowers in India via its D...
Fema / RBI : Read Rajasthan High Court's judgment in Bhagwati Jewellers regarding release of seized gold bullion and goods by Enforcement Direc...
Fema / RBI : In present facts of the case, the Hon’ble Supreme Court observed that the Enforcement Officer appointed under Section 3 of FERA,...
Income Tax : Karnataka High Court held the provisional attachment order unjustifiable as the same was passed simply stating that there is likel...
Fema / RBI : RBI's 2024 amendment to FEMA regulations allows foreign investors to buy Sovereign Green Bonds in India’s IFSC and remit proceed...
Fema / RBI : Read about RBI's latest circular on Liberalised Remittance Scheme (LRS) allowing expanded remittances to IFSCs, implications, and ...
Fema / RBI : Understand RBI's latest guidelines on Basel III Capital Regulations and the use of credit ratings from accredited agencies like Br...
Fema / RBI : Explore RBI's latest circular detailing Exim Bank USD 2.50 mn Line of Credit to Guyana for a Solar PV Plant at Cheddi Jagan Int l ...
Fema / RBI : The RBI now allows unlimited remittance via online Form A2 submission, enhancing ease of business for Authorised Dealers and custo...
The government plans to plug loopholes in investment of foreign equity from a single source into one company through multiple routes. Currently, different agencies monitor the foreign investment flow, leading to policy overlaps and violations.
With opposition parties training their guns on the Indian Premier League (IPL), the government today told Lok Sabha that the investigation into the sources and routes of funding for the Twenty20 tournament had already begun and “no guilty or wrong-doer” would be spared.
The government plans to tighten investment norms for non-resident Indians (NRI) in companies to ensure that they do not violate foreign direct investment (FDI) sectoral caps or enter areas where such investment is banned. The Reserve Bank of India (RBI) has also mooted a proposal to withdraw the special status given to NRIs for investing in sectors such as aviation, housing and real estate.
Ministry of defence plans to oppose a proposal from the ministry of commerce and industry to allow foreign defence corporations to establish fully-owned defence units in India. The new Consolidated Foreign Direct Investment Policy, effective from April 1, limits FDI in defence units to 26 per cent. But the Department of Industrial Policy & Promotion of the commerce ministry is in favour of raising this limit.
A Writ Petition was filed challenging the order dated 17.7.2008 of the Appellate Tribunal for Foreign Exchange, Janpath, New Delhi, (hereinafter `the Tribunal’), on various grounds with which this Court is not concerned. By that order, the Tribunal refused to dispense with the pre-deposit of penalty by the appellant and the concluding portion of that order is:
Government on Thursday banned foreign direct investment in cigarette manufacturing. “FDI will be prohibited in the manufacture of cigarettes, whether it is for domestic consumption or for exports,” home minister P Chidambaramtold reporters after the meeting of the Cabinet Committee on Economic Affairs.
The Reserve Bank of India (RBI) has issued Notification no. FEMA 205/2010-RB dated 7 April 2010 (Notification), which has amended the regulation in connection with pricing norms for issue of shares by an Indian company to a person resident outside India. This Notification comes into force from 21 April 2010 (i.e. the date of its publication in the Official Gazette). Given below are the amended pricing norms for rights issue and issue of shares (other than rights issue).
The pricing in regard to issue and transfer of shares to non-residents were governed by the CCI guidelines. Theses have been replaced with the discounted cash flow method which is based on the future earnings. However, RBI has made a distinction in pricing with respect to issue of shares on preferential basis as compared to normal issue as the same would be covered by the RBI guidelines to be prescribed.
Price of shares issued to persons resident outside India under this Schedule, shall not be less than – (a) the price worked out in accordance with the SEBI guidelines, as applicable, where the shares of the company is listed on any recognised stock exchange in India;(b) the fair valuation of shares done by a SEBI registered Category – I Merchant Banker or a Chartered Accountant as per the discounted free cash flow method, where the shares of the company is not listed on any recognised stock exchange in India ; and
Favours check on downstream investments by firms with minority foreign shareholding. The finance ministry has proposed to tighten the foreign direct investment (FDI) regime in the country. It has sought to route a larger number of investments by companies where the foreign stakeholding is less than 50 per cent through the Foreign Investment Promotion Board (FIPB).
