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November 2012

A. P. (DIR Series) Circular No. 36 dated 26th September, 2012

By Gaurang Gandhi, Chartered Accountant

Reading Time 1 mins

Foreign Direct Investment (FDI) in India – Allotment of Shares to person resident outside India under Memorandum of Association (MoA) of an Indian company–Pricing guidelines.

Presently, a non-resident, under the FDI Scheme, can purchase shares or convertible debentures of an Indian company based on the valuation method prescribed under paragraph 5 of Schedule 1 of Notification No. FEMA 20/2000 -RB dated May 3, 2000.

This circular has relaxed the said guidelines and permits eligible non-residents (including NRI) investors who are subscribers to Memorandum of Association of the investee company to subscribe for shares at face value.

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November 2012

A. P. (DIR Series) Circular No. 36 dated 26th September, 2012

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