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Regulation 3 - Restrictions on Investment in a Firm or a Proprietary Concern in India by a Person Resident Outside India - Foreign Exchange Management (Investment In Firm or Proprietary Concern In India) Regulations, 2000Extract These rules have been superseded vide New Regulations New Regulations of 2017 3. Restrictions on Investment in a Firm or a Proprietary Concern in India by a Person Resident Outside India Save as otherwise provided in the Act or rules or regulations made or directions or orders issued thereunder, no person resident outside India shall make any investment by way of contribution to the capital of a firm or a proprietary concern or any association of persons in India ; Provided that the Reserve Bank may, on an application made to it, permit a person resident outside India subject to such terms and conditions as may be considered necessary to make an investment by way of contribution to the capital of a firm or a proprietary concern or any association of persons in India.
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