Tag: FDI
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Insurance Companies: IRDA Seeks Control in Indian Hands
[Posted by Umakanth Varottil] [The following post is contributed by Vinod Kothari of Vinod Kothari & Co. He may be contacted at vinod@vinodkothari.com] The issue of ownership and control of insurance companies in India has been in a state of flux since early this year. While the intent of the Government was clear – to…
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Foreign owned or controlled companies: Is sharing of office infrastructure real estate business?
[Posted by Umakanth Varottil] [The following guest post is contributed by Vinod Kothari of Vinod Kothari & Co.] If a company wholly or majorly owned by non residents allows group or subsidiary companies to share your photocopier, or server, or staff, are you engaged in “real estate business”? The question itself must have startled most:…
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Composite Caps for Foreign Investment Formalized
[Posted by Umakanth Varottil] We had earlier discussed the Union Cabinet’s decision to create composite caps for foreign investment under various categories. That decision has now been formalized in the form of Press Note No. 8 of 2015 issued by the Department of Industrial Policy & Promotion, Government of India (“DIPP”). In the previous post,…
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Composite Caps for Foreign Investment
[Posted by Umakanth Varottil] Normal 0 false false false EN-US JA X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:”Table Normal”; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:””; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:12.0pt; font-family:”Times New Roman”;} Although liberalized over time, caps on foreign investments in select sectors have been a hallmark of India’s foreign investment policy.…
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Lack of Regulatory Clarity on Foreign Investment in the Insurance Sector
[Posted by Umakanth Varottil] [The following guest post is contributed by Nivedita Shankar, Senior Associate, Corporate Law Division, Vinod Kothari & Company. The author may be reached at nivedita@vinodkothari.com]. An increase in the threshold limit for foreign investment in insurance companies has been hailed as a major thrust for the insurance sector, which has seen…
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DIPP Clarification on NRI Investments
[Posted by Umakanth Varottil] [The following guest post is contributed by Dipanjali Nagpal of Vinod Kothari & Co. The author may be contacted at corplaw@vinodkothari.com. This post follows upon an earlier more brief post on the topic.] The Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce and Industry, Government of India reviewed the…
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Liberalization of Investments by Non-Resident Indians
[Posted by Umakanth Varottil] Non-resident Indians (NRIs) have long been considered as a separate category of investors who have enjoyed some privileges compared to other classes of foreign investors. NRIs have been allowed to investment either on a repatriable basis (with more stringent norms) and on a non-repatriable basis (with less stringent norms). Earlier this…
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Consolidated FDI Policy Circular of 2015
[Posted by Umakanth Varottil] Normal 0 false false false EN-US JA X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:”Table Normal”; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:””; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:12.0pt; font-family:”Times New Roman”;} The Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce and Industry has issued its annual FDI Policy Circular…
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Revised FDI Norms for Construction Notified
[Posted by Umakanth Varottil] Last month, we had carried a guest post summarising and commenting upon the changes to the FDI norms in the construction industry, which relaxed several conditions. Now the Department of Industrial Policy and Promotion (DIPP) has made these changes effective in the form of Press Note No. 10 (2014 Series).
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Update: Relaxation of FDI Norms for Construction Development Sector
[Posted by Umakanth Varottil] [The following post is contributed by Bhushan Shah at Mansukhlal Hiralal & Company, Mumbai] The Union Cabinet on 29 October 2014 decided to amend the Foreign Direct Investment (FDI) policy in the construction sector, i.e. townships, housing and built-up infrastructure. The press release is available here. The key amendments are as…