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In a public limited company having less than 100% foreign equity participation under the automatic route, whether it can be increased to 100% equity participation under the automatic route?

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In a public limited company having less than 100% foreign equity participation under the automatic route, whether it can be increased to 100% equity participation under the automatic route?

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As long as the activity is covered on the automatic route and there is no sectoral cap and no acquisition of existing shares is involved.

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