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June 2012

A.P. (DIR Series) Circular No. 120, dated 8-5-2012 — Foreign Direct Investment (FDI) in India — Issue of equity shares under the FDI scheme allowed under the Government Route.

By Gaurang Gandhi, Chartered Accountant

Reading Time 1 mins

Presently, under the Approval Route, equity shares/ preference shares can be issued against import of second-hand machinery. This Circular provides that now onwards equity shares/preference shares cannot be issued against import of second-hand machinery.

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