Overseas Direct Investments – Rollover of Guarantees

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..... ation No. FEMA.120/RB-2004 dated July 7, 2004 [ Foreign Exchange Management (Transfer or Issue of any Foreign Security) (Amendment) Regulations, 2004 ] (the Notification), as amended from time to time. 2. It has been decided not to treat / reckon the renewal / rollover of an existing / original guarantee, which is part of the total financial commitment of the Indian party in terms of Regulation .....

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..... ian party shall obtain prior approval of the Reserve Bank for rollover / renewal of the existing guarantee through the designated AD bank. 4. AD - Category I banks may bring the contents of this circular to the notice of their constituents and customers concerned. 5. The directions contained in this circular have been issued under Sections 10(4) and 11(1) of the Foreign Exchange Managemen .....

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