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

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..... t Investment (ODI) 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 Transf .....

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..... to India, at the time of making such financial 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 sub-rule (2) of rule 2 of the Companies (Rest .....

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