by sasha » Wed May 03, 2006 05:49 am
The Insurance Regulatory and Development Authority (Irda) has told the finance ministry that the foreign direct investment (FDI) limit for insurance companies operating in special economic zones (SEZs) should be at par with general industry norms.
Posted: Wed Aug 24, 2011 02:49 am Post Subject: qRfaLjPNPGEUHZiLX
At last! Someone who unedsrtands! Thanks for posting!
Posted: Fri Jun 22, 2012 07:02 pm Post Subject: OCYdlmWWScj
It is clear from the opening poirton of Clause 5.2.2 of Press Note 2 that if the investing Indian company is a 50:50 JV with equal ownership and control, any downstream investment by such company will be considered to be foreign investment as the investing company is neither 'owned and controlled' by a resident Indian citizen nor is it owned or controlled by a non-resident entity.
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