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Policy on foreign investment for Asset Reconstruction Companies-amendment of paragraph 6.2.18.1 of ‘consolidated FDI Policy Circular of 2015’

FEMA - Press Note No. 4(2016 Series) - Dated:- 6-5-2016 - Government of India Ministry of Commerce & Industry Department of Industrial Policy & Promotion Press Note No. 4(2016 Series) Subject : Policy on foreign investment for Asset Reconstru .....

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ion Companies, presently reads as below: 6.2.18.1 Asset Reconstruction Companies Sector/ Activity % of Equity/FDI Cap Entry Route 6.2.18.1.1 'Asset Reconstruction Company' (ARC) means a company registered with the Reserve Bank of India under .....

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ions: (i) Persons resident outside India can invest in the capital of Asset Reconstruction Companies (ARCs) registered with Reserve Bank, up to 49% on the automatic route, and beyond 49% on the Government route. (ii) No sponsor may hold more than 50% .....

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in the Security Receipts (SRs) issued by ARCs registered with Reserve Bank. FIIs/FPIs can invest up to 74 per cent of each tranche of scheme of SRs. Such investment should be within the FII/FPI limit on corporate bonds prescribed from time to time, .....

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2. 2.0 Revised Position: 2.1 The Government of India has liberalized the foreign investment limits for Asset Reconstruction Companies. Accordingly, Paragraph 6.2.18.1 of 'Consolidated FDI Policy Circular of 2015', effective from 12.5.2015, is .....

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Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). 100% Automatic 6.2.18.1.2 Other Conditions: (i) Persons resident outside India can invest in the capital of Asset Reconstruction Companies (ARCs) registered with Reserve .....

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