1“Indian party” means a company incorporated in India or a body created under an Act of Parliament is a partnership firm registered under the Indian Partnership Act, 1932 making investment in a JV/WOS abroad, and includes any other entity in India as may be notified by RBI.
2 As amended from time to time.
3 A.P. (DIR Series) circular No. 96 dated 28th March, 2012.
4 Financial Commitment includes contribution to the capital of the overseas JV/WOS, loan granted to the JV/WOS and 100 percent of the guarantees other than performance guarantee and 50 per cent of the amount of performance guarantees issued to or on behalf of the JV/WOS. |