Downstream investment by a banking company incorporated in India, which is owned and/or controlled by non-residents/ a non-resident entity/non-resident entities - Insertion of a Note below paragraph 3.10.4.1 of 'Circular 1 of 2012-Consolidated FDI Policy'

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..... Department of Industrial Policy Promotion (FC-I Section) Press Note No.2 (2012 Series) Subject: Downstream investment by a banking company incorporated in India, which is owned and/or controlled by non-residents/ a non-resident entity/non-resident entities - Insertion of a Note below paragraph 3.10.4.1 of 'Circular 1 of 2012-Consolidated FDI Policy' 1.0 Present Position: 1 .....

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..... indirect foreign investment in case of Indian companies which are 'owned and controlled' by resident Indian citizens and/or Indian Companies which are owned and controlled by resident Indian citizens. ( b ) For cases where condition (a) above is not satisfied or if the investing company is owned or controlled by 'non-resident entities', the entire investment by the investing company into the s .....

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..... raph 3.10.4.1: A new Note below paragraph 3.10.4.1 is inserted as below: Note: Downstream investment/s made by a banking company, as defined in clause (c) of section 5 of the Banking Regulation Act, 1949, incorporated in India, which is owned and/or controlled by non-residents/ a non-resident entity/non-resident entities, under Corporate Debt Restructuring (CDR), or other loan restructuring m .....

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