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Is permission of Reserve Bank required for investment in new issues of Indian companies on non-repatriation basis?

April 26, 2017Bank companies indian Investment non-repatriation permission Reserve

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Is permission of Reserve Bank required for investment in new issues of Indian companies on non-repatriation basis?

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No. Indian companies have been granted general permission to accept investments on non-repatriation basis, in shares/convertible debentures by way of new/rights issue provided the investee company is not engaged in agricultural/plantation activity or real estate business (excluding real estate development i.e. development of property and construction of house) or chit fund or is not a Nidhi company.