Guidelines regarding "Proposal for FDIs" - Reg. - SEZ - 23/2009

Instruction no. 23 No. C.8/3/2009-SEZ Government of India Ministry of Commerce and Industry Department of Commerce (SEZ Section) Udyog Bhawan, New Delhi Dated the 16 th July, 2009 To All the DCs/ Developers/ approved Co-developers Subject: Guidelines regarding "Proposal for FDIs " - Reg. Dear Sir/Madam, In terms of the present guidelines, in SEZ, 100% FDI is permitted under automatic route. As decided in the 31st meeting of the Board of Approvals held on 15.01.2009, it may kindly be ensured by the promoter that his equity does not fall below 51%. In case the promoter decides to decrease the shareholding below 51% then prior approval of BoA must be taken. Yours faithfully (T. Srinidhi) Director Tel: 2306 3265 E-mail: [email protected] Copy to: 1. All Chief Secretaries of State Governments. 2. All Development Commissioners 3. DG, EPCES 4. Shri K. Jose Cyriac, Additional Secretary, Dept. Of Revenue, New Delhi 5. AS (DKM)/ JS(AM)