CARE by certain shareholders
resident in India to investors resident in India and also
to eligible non resident investors including Foreign
Institutional Investors (FIIs), Foreign ... residents and to
eligible non-residents covered under Schedule 1 and
also to non-residents covered under various other
Schedules of FEMA Regulations. Thus
outside India" for
the concerned fiscal year under FEMA. FEMA defines a "person
resident outside India" as somebody ... outside India" for the
concerned fiscal year under FEMA. FEMA defines a "person resident
outside India" as somebody
Current Account
Transactions ( Section 5 FEMA) and Capital Account Transactions ( Section
6 FEMA) and the penalties ( Section 13(1) FEMA). It also discussed the
Foreign ... Management (Transfer or Issue of Security by a Person
Resident Outside India) Regulations, 2000 (FEMA 20), RBI Circular No. 16
dated 4th October 2004, („October
Management (Transfer or Issue of Securities by a
Person Resident Outside India) Regulations 2000 ('FEMA Regulations')
and notifications issued from time to time ... Permission for
purchase of shares by certain persons resident outside
India) of FEMA 20. In 2008 when the investment was
made by Banyan Tree
more, either the FERA Act, 1973 , or FEMA Act define the word 'ordinary resident'. To seek the assistance of the said Acts. However ... resident India'. Hence, in my view by the mere fact of being a 'non-resident' within the meaning of FERA and FEMA
resident (i.e. by incorporated
non-resident entity, erstwhile OCB, foreign national,
NRI, FII) to resident
Sale of shares by a non-resident to resident ... damages by
resident Respondents to resident Petitioner No. 3,
being a transaction between a person resident in India
with another person resident in India, does
permissible under the Foreign Exchange Management Act (FEMA), under which the RBI permits the resident Indians to make investments abroad. The manner in which income ... lead to creation of black money. Further, the rules and regulations under FEMA may need some modification as well
permissible under the Foreign Exchange Management Act (FEMA), under which the RBI permits the resident Indians to make investments abroad. The manner in which income ... lead to creation of black money. Further, the rules and regulations under FEMA may need some modification as well to ensure that only those
FEMA, 1999. The
'person resident outside India' and 'persons resident
in India' as defined under FEMA, 1999 are re-
produced ... controlled by a person resident in India; (w)
"person resident outside India" means a person
who is not resident in India
Advansys (India) Private Limited vs Originally on 9 May, 2014
Author: G.S. Patel
Bench
