TAILIEUCHUNG - Master Circular on Foreign Investment in India

In multiple-tier markets, stock exchange operators have also supported the transition of companies from less regulated compartments for small cap companies to their main markets, in a number of instances providing assistance to companies adopting the required higher governance standards. For instance, the TSX facilitates the transition of companies from its Venture Exchange 22 to its main market, which features higher governance requirements. The TSX also provides a range of incentives for companies wishing to switch, such as waiving listing application fees or reducing documentation requirements. In addition to being at the forefront of development of governance codes and recommendations,. | RESERVE BANK OF INDIA Foreign Exchange Department Central Office Mumbai - 400 001 RBI 2012-13 15 Master Circular No. 15 2012-13 July 02 2012 To All Category - I Authorised Dealer banks Madam Sir Master Circular on Foreign Investment in India Foreign investment in India is governed by sub-section 3 of Section 6 of the Foreign Exchange Management Act 1999 read with Notification No. FEMA 20 2000-RB dated May 3 2000 as amended from time to time. The regulatory framework and instructions issued by the Reserve Bank have been compiled in this Master Circular. The list of underlying circulars notifications is furnished in Appendix. In addition to the above this Master Circular also covers the area of Investment in capital of partnership firms or proprietary concern which is regulated in terms of Section 2 h of Section 47 of Foreign Exchange Management Act 1999 read with Notification No. FEMA 24 2000-RB dated May 3 2000. 2. This Master Circular is being issued with a sunset clause of one year. This circular will stand withdrawn on July 1 2013 and be replaced by an updated Master Circular on the subject. Yours faithfully Rudra Narayan Kar Chief General Manager INDEX PART - Foreign Investments in India Schematic Representation .0 SECTION - I FOREIGN DIRECT 1. Foreign Direct Investment in 2. Entry routes for investments in 3. Eligibility for Investment in 4. Type of 5. Pricing guidelines .5 6. Mode of 7. Foreign Investment limits Prohibited Sectors and investment in 8. Modes of Investment under Foreign Direct Investment . Issuance of fresh shares by the Acquisition by way of transfer of existing shares by person resident outside . Issue of Rights Bonus . Issue of shares under Employees Stock Option Scheme ESOPs .15 Conversion of ECB Lumpsum Fee Royalty Import of capital goods by SEZs in to Equity Import payables Pre incorporation 8. F. .

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