What is Indias policy on investment by Overseas Corporate Bodies (OCB)?
OCB means a company or partnership firm, society or other corporate body owned directly or indirectly to the extent of at-least 60 per cent by NRI and includes overseas trusts in which not less than 60 per cent beneficial interest is held by NRIs, directly or indirectly but irrevocably. RBI has derecognized the OCBs, as eligible entities to make investment in India and hence OCBs are prohibited from making any investment either in shares or convertible debentures or securities of company registered in India.
