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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 Reconstruction Companies-amendment of paragraph 6.2.18.1 of consolidated FDI Policy Circular of 2015 1.0 Present Position: 1.1 Paragraph 6.2.18.1 of 'Consolidated FDI Policy Circular of 2015', effective from May 12, 2015, relating to Asset Reconstruct .....

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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% of the shareholding in an ARC either by way of FDI or by routing it through an FII/FPI controlled by the single sponsor. (iii) The total shareholding of an individual FII/FPI shall be below 10% of the total paid-up capital. (iv) FIIs/FPIs can invest .....

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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 amended to read as below: 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 section 3 of the Securitisation and Reconstruction of .....

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