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[Cites 0, Cited by 0] [Section 14(1)] [Section 14] [Entire Act]

Union of India - Subsection

Section 14(1)(e) in Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2017

(e)'Company controlled by resident Indian citizens' means an Indian company, the control of which is vested in resident Indian citizens and/ or Indian companies which are ultimately owned and controlled by resident Indian citizens. An 'LLP controlled by resident Indian citizens' shall mean an LLP, the control of which is vested in resident Indian citizens and/ or Indian entities, which are ultimately owned and controlled by resident Indian citizens.