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October 2015

DIPP Press Note No. 9 (2015 Series) dated September 15, 2015

By Gaurang Gandhi Chartered Accountant
Reading Time 1 mins
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Review of existing Foreign Direct Investment policy on Partly Paid Shares and Warrants

This Press Note makes the following two changes to the Consolidated FDI Policy Circular of 2015 with immediate effect: –

1. Para 2.1.5 is amended to read as under: –

‘Capital’ means equity shares; fully, compulsorily & mandatorily convertible preference shares; compulsorily & mandatorily convertible debentures and warrants.

2. Insertion of new para after para 3.3.3 of Consolidated FDI Policy Circular of 2015: –

3.3.3 bis: Acquisition of Warrants and Partly Paid Shares – An Indian Company issues warrants and partly paid shares to persons resident outside India subject to terms and conditions as stipulated by the Reserve Bank of India, from time to time.

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