TMI BlogAcquisition of a foreign company through bidding or tender procedureX X X X Extracts X X X X X X X X Extracts X X X X ..... ched by an Indian Party, which is eligible under the Regulations to make investment outside India, an authorised dealer may allow remittance towards earnest money deposit or issue a bid bond guarantee on its behalf for participation in bidding or tender procedure for acquisition of a company incorporated outside India, 2 [(2) On the Indian party winning the bid, (i) the authorised dealer ma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bond guarantee, subject to such terms and conditions as the Reserve Bank may stipulate. ] (4) In case the Indian Party is successful in the bid but the terms and conditions of acquisition of a company outside India are,- 4 [(a) not in conformity with the provisions of Regulations in Part I, or different from those for which approval under sub-regulation (3) was obtained, the Indian Party ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e final remittance. 2. Substituted vide NOTIFICATION No. FEMA 314/RB-2014, dated 3rd July, 2014 , before it was read as, (2) On the Indian Party winning the bid, i. the authorised dealer may allow further remittances towards acquisition of the foreign company, subject to the ceilings specified in Regulation 6; and 1 [(ii) The Indian Party shall submit through the designated ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a. not in conformity with the provisions of Regulations in Part I, or different from those for which approval under sub-regulation (3) was obtained, the Indian Party shall submit application in form ODI to Reserve Bank for obtaining approval for the foreign direct investment in the manner specified in Regulation 9, or - - statute, statutory provisions legislation, law, enactment, Acts, Rules, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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