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August 2008

A.P. (DIR Series) Circular No. 53, dated 27-6-2008 — Overseas Direct Investment by Registered Trust/Society.

By Pinky Shah, Sonalee Godbole, Gaurang Gandhi, Chartered Accountants
Reading Time 1 mins
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Part C : RBI/FEMA


The Reserve Bank of India has issued 3 Circulars. The DIPP
has issued 1 Press Note.


59 A.P. (DIR Series) Circular No. 53, dated
27-6-2008 — Overseas Direct Investment by Registered Trust/Society.

This Circular permits registered trusts and societies engaged
in manufacturing/educational sector to make investment in the same sector(s),
after obtaining prior approval of RBI, by way of joint venture or wholly-owned
subsidiary outside India. Application for permission has to be made in Form ODI.

 

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