Section 6(4)(ii) in The Foreign Exchange Management (Transfer or Issue of any Foreign Security) Regulations, 2004

[Cites 0, Cited by 0] [Section 6(4)] [Section 6] [Entire Act]

Union of India - Subsection

Section 6(4)(ii) in The Foreign Exchange Management (Transfer or Issue of any Foreign Security) Regulations, 2004

(ii)An Indian Party may extend corporate guarantee on behalf of its first generation step down operating company within the prevailing limit for overseas, direct investment. Explanation: Issue of corporate guarantee on behalf of second level or subsequent level step down operating subsidiaries will be considered under the Approval Route, provided the Indian Party indirectly holds 51 per cent or more stake in the overseas subsidiary for which such guarantee is intended to be issued.]

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Union of India - Subsection

Section 6(4)(ii) in The Foreign Exchange Management (Transfer or Issue of any Foreign Security) Regulations, 2004