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

Union of India - Subsection

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

(b)'Company owned by resident Indian citizens' shall mean an Indian company where ownership is vested in resident Indian citizens and/ or Indian companies, which are ultimately owned and controlled by resident Indian citizens. An 'LLP owned by resident Indian citizens' shall mean an LLP where ownership is vested in resident Indian citizens and/ or Indian entities, which are ultimately owned and controlled by resident Indian citizens.