Fema / RBI : In the wake of 1991 wave of economic reforms FIPB was formed under the Prime Ministers Office. In 1996, it was put under the contr...
Corporate Law : With FIPB getting abolished, it is expected that foreign investment proposals will be considered by the concerned ministry in cons...
Corporate Law : The Foreign Investment Promotion Board (FIPB) is a government body that offers a single window clearance for proposals on Foreign ...
Corporate Law : PM chaired a high level meeting to discuss the FDI policy in drugs and pharmaceutical sector. The meeting was attended by Finance ...
Income Tax : Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on July 6, 2011, Government has appr...
Corporate Law : New Delhi: Investors seeking government approval for Foreign Direct Investment (FDI) will now have to obtain electronically genera...
Corporate Law : The present policy of Government of India permits 100% Foreign Direct Investment (FDI) under Government route Le. with prior appro...
Corporate Law : The Department of Industrial Policy and Promotion (DIPP) under the ministry of commerce and industry has disagreed with the Union ...
Fema / RBI : The Guidelines for calculation of total foreign investment, both direct and indirect in an Indian company, at every stage of inves...
Fema / RBI : Publication of facsimile edition of foreign newspaper would also be subject to the Guidelines for publication of newspapers and pe...
Fema / RBI : It is clarified that these guidelines will not apply for sectors/activities where there are no foreign investment caps, that is, 1...
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on February 12, 2010, Government has approved 12 Proposals of Foreign Direct Investment amounting to Rs. 1045.611 Crore approximately.
The government is planning to tighten norms governing FDI through partly-paid shares, convertible warrants and units issued by venture capital funds (VCFs), as it looks to prevent misuse of these popular instruments. The finance ministry and the department of industrial policy & promotion (DIPP) have decided that the conditions such as sectoral ceilings, minimum-capitalisation and lock-in period governing foreign investment through equity should be applicable to these instruments. The two sides held consultations following an increase in the quantum of FDI flowing through these windows.
The Revenue Department, which scrutinises all foreign investments from the tax angle, has asked the Foreign Investment Promotion Board (FIPB) to ensure that FDI applicants furnish three years audited financial statements of the investor.Such disclosures will be useful to determine the source of funds as also to assess the ability of the actual and the immediate investor to make such investments.
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on November 20, 2009, Government has approved 17 Proposals of Foreign Direct Investment amounting to Rs. 4551.05 Crore approximately, the largest chunk of which is likely to be invested by a Russian government agency in telecom company Sistema Shyam.
The Department of Industrial Policy and Promotion (DIPP) under the ministry of commerce and industry has disagreed with the Union finance ministry’s view that there is need to regulate investment in sectors with foreign investment caps in respect of those companies which despite being technically “owned and controlled by Indians” as defined in Press Note 2, still leave scope for indirect foreign control.
The finance minister could approve foreign investments of up to Rs 1,200 crore (Rs 12 billion), without going to the Cabinet, if a proposal of the Department of Industrial Policy and Promotion to fast-track clearance of foreign direct investment is accepted.
The Guidelines for calculation of total foreign investment, both direct and indirect in an Indian company, at every stage of investment, including downstream investment, have been detailed in Press Note 2 of 2009 which enables determination of total foreign investment in any/all Indian Companies.
Publication of facsimile edition of foreign newspaper would also be subject to the Guidelines for publication of newspapers and periodicals dealing with news and current affairs and publication of facsimile edition of foreign newspapers issued by Ministry of Information & Broadcasting on 31.3.2006, as amended from time to time.
It is clarified that these guidelines will not apply for sectors/activities where there are no foreign investment caps, that is, 100% foreign investment is permitted under the automatic route.
Provided that, in case of a combination of all or any of the entities mentioned in Sub-Clauses (i) and (ii) of clause 5.5.4.1 above, each of the parties shall have entered into a legally binding agreement to act as a single unit in managing the matters of the applicant company.
