Restriction and Prohibitions on Person Resident in India for making Overseas Direct Investment in Foreign Entity

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..... DI) in Foreign Entity may imposed by Rule 19 of Foreign Exchange Management (Overseas Investment) Rules, 2022. * (1) Unless otherwise provided in the Act or these rules, * No person resident in India shall make ODI in a foreign entity engaged in - * (a) real estate activity; * "real estate activity" means buying and selling of real estate or trading in Transferable Development Ri .....

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..... commitment or at any time thereafter, either directly or indirectly, resulting in a structure with more than two layers of subsidiaries: Exception of such restriction and Prohibition mention under rule 19(1), (2) & (3) of shall not apply to * the following classes of companies mentioned in rule 2(2) of the Companies (Restriction on Number of Layers) Rules, 2017 as may be amended from time to ti .....

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..... t facilitate any transaction in respect of any foreign entity engaged in an activity mentioned in rule 19(1) of OI Rules or located in countries/ jurisdictions as advised by the Central Government under rule 9(2) of OI Rules. It is clarified that financial products linked to Indian Rupee shall include non-deliverable trades involving foreign currency-INR exchange rates, stock indices linked to Ind .....

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