Resident individuals in India who are doing investments under LRS and Indian companies who are planning to invest into foreign companies and Joint ventures outside India should review such transactions as per the above RBI regulations.
For details, please refer the attached document: RBI Restricts Round Tripping Through ODI
The information contained herein is in summary form based on RBI regulations on Overseas Direct Investment regulations (ODI) and its related FAQS. The said information should be read with directions issued by RBI giving effect to above decisions. While the information is believed to be accurate to the best of our knowledge, we do not make any representations or warranties, express or implied, as to the accuracy or completeness of this information. Reader should conduct and rely upon their own examination and analysis and are advised to seek their own professional advice. This note is not an offer, invitation, advice or solicitation of any kind. We accept no responsibility for any errors it may contain, whether caused by negligence or otherwise or for any loss, howsoever caused or sustained, by the person who relies upon it.