New Format for raising query on Foreign Direct Investment with the Department of Industrial Policy & Promotion

New Format for raising query on Foreign Direct Investment with the Department of Industrial Policy & Promotion (DIPP)

DIPP has prescribed the following format for raising any queries on FDI with it . Hence , any one wants a clarification from DIPP on the GOI FDIs policy may submit their query as per the following format.

Address :

MINISTRY OF COMMERCE & INDUSTRY

DEPARTMENT OF INDUSTRIAL POLICY & PROMOTION

UDYOG BHAWAN, NEW DELHI

EPABX NO: 011- 2306 1204/2306 1222-29

FAX NO: 011-2306 2626

TELEGRAPHIC ADDRESS: INDMINISTRY, NEW DELHI

 

1	Name of the  Existing / Proposed Investor
a)	Address
b)	Phone No
c)	Mail Id
d)	Date and Place of Incorporation
2)	Name of the Indian Investee entity/JV Partner
a)	Address
b)	Phone No
c)	Mail Id
d)	Date and Place of Incorporation
e)	Present Business Activities
f)	Copy of MOA
3	Proposed Amount of Investment
4	Percentage of foreign shareholding (pre and post investment )
5	Sector
6	NIC Code of the proposed activity
7	Gist (not exceeding 200 words ) of proposed business activity in India
8	Mention the paragraph number on which clarification
9	Please mention the issue in brief
10	Details of earlier SIA / FIPB/ RBI Approvals if any, Enclose copies
11	Any other information relevant to case or issue

 

 

 

RBI Clarification on Issue of equity shares under the FDI scheme allowed under the Government route against pre-operative/pre-incorporation expenses

 

Foreign Direct Investment (FDI) in India - Issue of equity shares under the FDI scheme allowed under the Government route against pre-operative/pre-incorporation expenses

Attention of Authorised Dealers Category – I banks is invited to Para 3 (II) of A.P. (DIR Series) Circular No. 74 dated June 20, 2011 read with A.P. (DIR Series) Circular No. 55 dated December 9, 2011, allowing thereby issue of equity shares/ preference shares under the Government route by conversion of import of capital goods, etc., subject to terms and conditions stated therein.

2. On review of the policy, it has now been decided to amend condition at (c) in the aforesaid para. The amended condition is given in the Annex.

3. All the other conditions contained in the A.P. (DIR Series) Circulars No. 74 dated June 20, 2011 and No. 55 dated December 9, 2011, shall remain unchanged.

4. AD Category - I banks may bring the contents of the circular to the notice of their customers/constituents concerned.

A.P.(DIR Series) Circular No. 74 dated June 30, 2011	Earlier Condition	Revised condition
Para 3(II)(c)	Payments should be made directly by the foreign investor to the company. Payments made through third parties citing the absence of a bank account or similar such reasons will not be eligible for issuance of shares towards FDI; and	Payments should be made by the foreign investor to the company directly or through the bank account opened by the foreign investor as provided under FEMA Regulations; and

Ref:

A.P. (DIR Series) Circular No. 104 May 17, 2013