Fema
Querist : Anonymous
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
Querist : Anonymous
(v) Indian company means a company incorporated in India;
Querist : Anonymous
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