Fema

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
13 December 2013 Sir

I have a doubt regarding the latest fema notification. the latest notification says

"In the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000, (Notification No. FEMA 20/2000-RB dated 3rd May 2000), in Regulation 2, after the clause (iv), the following shall be inserted, namely:-

“(iva) 'Group company' means two or more enterprises which, directly or indirectly, are in a position to :
exercise twenty-six per cent, or more of voting rights in other enterprise; or

appoint more than fifty per cent, of members of board of directors in the other enterprise"

In the Notification No. FEMA 20/2000-RB dated 3rd May 2000), where does this apply. is it in the definition given"

Thanks
Profile Image

CS,CA F,Numrologi TusharSampat

Profile Image

CS,CA F,Numrologi TusharSampat (Expert)
13 December 2013 yes it is given in definition.
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
13 December 2013 thanks sir . does the definition comes before the definition of company
(v) Indian company means a company incorporated in India;
Profile Image

CS,CA F,Numrologi TusharSampat

Profile Image

CS,CA F,Numrologi TusharSampat (Expert)
13 December 2013 yes as def u/s 2 is always in chronological order of alphabets.
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
13 December 2013 thank you sir
Profile Image

CS,CA F,Numrologi TusharSampat

Profile Image

CS,CA F,Numrologi TusharSampat (Expert)
13 December 2013 you are welcome.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Trending Online Classes

view all classess

Follow us

budget 26-27


Answer Query



Quick Links



Browse by Category