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SEZ unit -SSI

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(Querist)
12 May 2008 Indian company located in SEZ engaged in 100% export of Jewellery. A foreign company intends to invest 50 % in equity. Does FEMA automatic regulations permits such investment - or Indian company has to move to FIPB for permission. The confusion is that the CEO of Indian company carries an impression that since their unit is having an investment in plant & machinery is less than Rs.50 Million and therefore the unit is a SSI unit and therefore if investment exceeds 24 % they have to move to FIPB and no automatic route is available to foreign company.

Is such impression is correct?
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Taranjit Singh

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Taranjit Singh (Expert)
01 August 2010 Is this still pending??? plz pm
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