We are family owned unlisted public ltd co and have wholly owned subsidiary in UAE, which in turn holds 100% in Free Trade Zone of UAE. That step down subsidiary owns 75% in another country in Mauritius and this Maturities Company has 100% stake in one African company.
Possibly, RBI do not allow more than 2 step down subsidiaries.
Is it violation.?
Parent Indian Company is not considering accounts other than UAE Company.
Kindly guide.
From the series of posts relating to FEMA and cross holdings you have made here, my sincere request is to have a consultation from a professional than giving inputs in bits and pieces in the public domain regarding structuring and contraventions.
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