Section 14(3) in The Foreign Exchange Management (Transfer or Issue of any Foreign Security) Regulations, 2004
(3)[ For participation in bidding or tender procedure for acquisition of a company incorporated outside India which does not fall within the provisions of sub-regulation (1), the Reserve Bank may, on application in Form ODI, as prescribed at the Reserve Bank from time to time allow remittance of foreign exchange towards earnest money deposit or permit the authorised dealer in India to issue a bid bond guarantee, subject to such terms and conditions as the Reserve Bank may stipulate.] [Substituted by Notification No. G.S.R. 489 (E), dated 3.7.2014, (w.e.f. 8.5.2000)]
