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[Cites 0, Cited by 0] [Section 2(7A)] [Section 2] [Entire Act]

Union of India - Subsection

Section 2(7A)(b) in The Insurance Act, 1938

(b)in which the aggregate holdings of equity shares by foreign investors, including portfolio investors, do not exceed forty-nine per cent. of the paid up equity capital of such Indian insurance company, which is Indian owned and controlled, in such manner as may be prescribed.