TMI BlogTransfer by way of sale of shares of a JV/WOS outside IndiaX X X X Extracts X X X X X X X X Extracts X X X X ..... r, by way of sale to another Indian Party which complies with the provisions of Regulation 6 above, or to a person resident outside India, any share or security held by it in a JV or WOS outside India subject to the following conditions: I. the sale does not result in any write off of the investment made; II. the sale is to be effected through a stock exchange where the shares o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... party is not under investigation by CBI / DoE / SEBI / IRDA or any other regulatory authority in India. (1A) (i) In the following cases, an Indian Party may disinvest, if the amount to be repatriated on disinvestment is less than the amount of the original investment: 1. where the JV / WOS is listed in the overseas stock exchange; 2. where the Indian Party is li ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tted to the Regional office of the Reserve Bank through the designated authorized dealer. (3) An Indian party, which does not satisfy the criteria specified at sub regulation (1) above, shall apply to the Reserve Bank for permission to transfer by way of sale of shares of a JV/WOS outside India which may be granted subject to such conditions as the Reserve Bank may consider appropriate. **** ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of not less than ₹ 100 crore; (iii) where the Indian promoter is an unlisted company and the investment in overseas venture does not exceed USD 10 million. Provided that (i) The sale does not result in any write-off of the investment made; (ii) the sale is effected through a stock exchange where the shares of the overseas Joint Venture or Wholly Owned Subsidiary are listed; (i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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