- in cases where the JV / WOS is listed in the overseas stock exchange;
- in cases where the Indian Party is listed on a stock exchange in India and has a net worth of not less than Rs.100 crore;
- where the Indian Party is an unlisted company and the investment in the overseas venture does not exceed USD 10 million and
- where the Indian Party is a listed company with net worth of less than Rs.100 crore but investment in an overseas JV/WOS does not exceed USD 10 million.
A.P. (DIR Series) Circular No. 73 dated 29 June 2011