Overseas Investments

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..... any Foreign Security) Regulations, 2000, notified by the Reserve Bank vide Notification No.FEMA.19/RB-2000 dated 3rd May 2000 as amended from time to time. 2. At present residents are not permitted to make investments in equity of companies registered overseas except by way of setting up joint ventures or wholly owned subsidiaries. It has now been decided to permit relaxations as under :- i. Co .....

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..... nds to also invest in equity of overseas companies indicated at (i) above. It has also been decided to enhance the overall cap to USD 1 billion. Accordingly, Mutual Funds desirous of availing of this facility may approach the Reserve Bank after obtaining the necessary permission from SEBI in the matter. 3. The above relaxations are subject to the following:- a. All transactions are routed throug .....

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..... ge Control Department, Reserve Bank of India, Overseas Investment Division, Mumbai a monthly statement on or before 10th of the succeeding month indicating the amount of remittances allowed/received in respect of purchases/sales and the net investment outstanding in respect of each of the categories mentioned above. Reporting format is being advised separately. 4. The above relaxations, subject .....

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