Section 9(2)(a) in The Foreign Exchange Management (Transfer or Issue of any Foreign Security) Regulations, 2004

[Cites 0, Cited by 0] [Section 9(2)] [Section 9] [Entire Act]

Union of India - Subsection

Section 9(2)(a) in The Foreign Exchange Management (Transfer or Issue of any Foreign Security) Regulations, 2004

(a)for the purposes of investment by way of remittance from India, in an existing company outside India, shall be accompanied, by the valuation of shares of the company outside India, made -

(i)where the investment is more than USD 5 (Five) million, by a Category I Merchant Banker registered with SEBI or an Investment Banker/Merchant Banker registered with the appropriate regulatory authority in the host country; and

(ii)in all other cases, by a Chartered Accountant or a Certified Public Accountant;

Legal Document View

Unlock Advanced Research with PRISMAI

Union of India - Subsection

Section 9(2)(a) in The Foreign Exchange Management (Transfer or Issue of any Foreign Security) Regulations, 2004