Home Acts & Rules FEMA Old_Provisions FOREIGN EXCHANGE MANAGEMENT (INVESTMENT IN FIRM OR PROPRIETARY CONCERN IN INDIA) REGULATIONS, 2000 This
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Regulation 4 - Permission for investment in certain cases - 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EXCHANGE MANAGEMENT (INVESTMENT IN FIRM OR PROPRIETARY CONCERN IN INDIA) REGULATIONS, 2000Extract These rules have been superseded vide New Regulations New Regulations of 2017 4.Permission for investment in certain casesA non-resident Indian or a Person of Indian Origin resident outside India may invest by way of contribution to the capital of a firm or a proprietary concern in India, provided that - (a) the amount invested is received either by inward remittance through normal banking channels or out of an account maintained with an authorised dealer/authorised bank by the non-resident Indian or the person of Indian origin in accordance with the relevant Regulations; (b) the firm or the proprietary concern is not engaged in any agricultural/plantation activity or real estate business, i.e. dealing in land and immovable property with a view to earning profit or earning income therefrom; (c) the amount invested shall not be eligible for repatriation outside India; (d) where investment is made out of NRSR account of the non-resident investor, the income earned on investment or proceeds of investment shall be credited only to the NRSR account of the investor. 1 (e) the firm or the proprietary concern is not engaged in print media. ************************* Note : 1. Has been added vide Notification No. 050/2002 dated 20/2/2002
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