TMI BlogOverseas Direct Investments – Rationalisation of Form ODIX X X X Extracts X X X X X X X X Extracts X X X X ..... sed Dealer every year within 60 days from the date of expiry of the statutory period as specified by the respective laws of the host country for finalization of the audited accounts of the Joint Venture (JV) /Wholly Owned Subsidiary (WOS) outside India or such further period as may be allowed by the Reserve Bank, an Annual Performance Report (APR) in Form ODI Part III in respect of each JV or WOS outside India set up or acquired by the Indian Party. Further, an Indian party is allowed to undertake overseas direct investments under the General Permission (Automatic Route) subject to compliance to the provisions under Regulation 6 (and Regulation 7 , if applicable) of the Notification. Regulation 6(2)(iv) of the Notification requires tha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (42 of 1999) and are without prejudice to permissions/approvals, if any, required under any other law. Yours faithfully, Dr.(Smt.) Sujatha Elizabeth Prasad Chief General Manager-In-Charge Annexure Section E (Revised) : Declaration by the Indian Party ( a ) Whether the applicant party (ies), its promoters, directors, etc., are under investigations by any investigative/enforcement agency or regulatory body. If yes, the brief details thereof, including present stage of investigation/adjudication/manner of disposal of the case. ( b ) Whether the promoter Indian party(ies) is (are) presently on Exporters' Caution List of Reserve Bank for non-realization of export proceeds or on the list of defaulters to the Banking Sy ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iented or banking business, and ( ii ) the amount of foreign exchange proposed to be purchased for remittance towards the investment together with remittances for all overseas investments already made and exports and other dues capitalized/swap of shares/investment from ECB/FCCB balances for investment abroad under the Automatic Route is within the limit stipulated by the Reserve Bank from time to time. This has been verified with reference to the net worth of the Indian party (Name of the Indian Party) as on the date of last audited balance sheet, i.e. .. (date) ( iii ) has complied with the valuation norms prescribed for the investment ( iv ) has complied with the ECB guidelines # ( v ) that the Indian party ( a ) has made net ..... X X X X Extracts X X X X X X X X Extracts X X X X
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