Reserve Bank of India

04.02.2016

Banking

Changes proposed in timeframe for issue of shares and reporting of FDI

MANU/RPRL/0053/2016

The Reserve Bank of India has proposed changes in respect of the time frame for issuing shares to align provisions of the Foreign Exchange Management Act, 1999 which requires an investee company receiving Foreign Direct Investments to issue shares within 180 days of receipt of foreign investment with the provisions of the Companies Act, 2013 and in respect of filing of report with the Reserve Bank regarding receipt of foreign investment and issue of shares. Comments are being received till 22nd February, 2016.

Tags : Rbi timeframe issue reporting shares fdi

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