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[Cites 0, Cited by 0] [Section 14(5)] [Section 14] [Entire Act]

Union of India - Subsection

Section 14(5)(b) in Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2017

(b)For the purpose of downstream investment, the Indian entity making the downstream investment shall bring in requisite funds from abroad and not use funds borrowed in the domestic markets. Downstream investments can be made through internal accruals. For this purpose, internal accruals will mean profits transferred to reserve account after payment of taxes.