Online edition of India's National Newspaper
Saturday, Sep 03, 2005
Online edition of India's National Newspaper Saturday, Sep 03, 2005 |
| Business |
|
News:
Front Page |
National |
Tamil Nadu |
Andhra Pradesh |
Karnataka |
Kerala |
New Delhi |
Other States |
International |
Opinion |
Business |
Sport |
Miscellaneous |
Engagements |
Advts: Classifieds | Employment | Obituary | Business
Special Correspondent
NEW DELHI: The Centre on Friday announced that henceforth all investment proposals by non-resident Indians (NRIs) would qualify for conversion of non-repatriable equity into repatriable equity under the automatic route, subject to certain specified conditions. Earlier, investments made by NRIs in foreign exchange on a non-repatriable basis was allowed to be made fully repatriable, whereas investment made in Indian rupees through rupee account continued to remain non-repatriable. In a statement here, the Department of Industrial Policy and Promotion (DIPP), has now clarified that all proposals would qualify for conversion of non-repatriable equity into repatriable equity under the automatic route provided: The original investment by the NRI was made in foreign exchange under the FDI Scheme (Schedule I of FEMA Regulations 20/2000 dated 3.5.2000); and the sector/activity in which the investment is proposed to be converted into repatriable equity is on the automatic route for FDI.
Printer friendly
page
News:
Front Page |
National |
Tamil Nadu |
Andhra Pradesh |
Karnataka |
Kerala |
New Delhi |
Other States |
International |
Opinion |
Business |
Sport |
Miscellaneous |
Engagements |
|
|
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2005, The
Hindu. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu
|
