RBI notifies foreign direct investment in limited liability partnerships
The Reserve Bank of India (RBI) has issued a notification amending the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations 2000 (‘FEMA Regulations’), clarifying the procedures relating to foreign direct investment (FDI) in limited liability partnerships (LLPs) established under the Limited Liability Partnership Act 2008 (LLP Act).
FDI in LLPs was notified by the Ministry of Commerce & Industry in May 2011 through Press Note 1 of 2011 to allow FDI in LLPs with prior approval from the Foreign Investment Promotion Board (FIPB), while restricting such investment to sectors that were otherwise open to 100 per cent FDI under the automatic route. However, no immediate corresponding amendment was made to the FEMA Regulations…
Click on the link below to read the rest of the Khaitan & Co briefing.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Khaitan & Co
Briefings from Khaitan & Co
Key changes include the introduction of e-auctions for mineral concessions.
India intends to be a world player by 2020, and this policy is aimed at simplifying the import/export process.