Section 7(9)(i) in The Foreign Exchange Management (Foreign Currency Accounts By A Person Resident In India) Regulations, 2000
(i)The Indian party is eligible for overseas direct investments in terms of Regulation 6 or Regulation 7, as the case may be, of Foreign Exchange Management (Transfer or Issue of Any Foreign Security) Regulations, 2004 (notified in Notification No. FEMA 120/RB-2004 dated July 7, 2004) as amended from time to time.