Wednesday June 5 2013

News Source: Global Disclosures

Focus: Foreign Investment

Type: General

Country: India




The Department of Industrial Policy and Promotion has public Press Note No. 2 of 2013 which amends certain provisions of the April 2013 Consolidated India FDI Policy.

The definition of “group company” has been amended to read as follows:

“Group company” means two or more enterprises which, directly or indirectly, are in a position to:

(i) exercise 26% or more of voting rights in other enterprise; or

(ii) appoint more than 50% of members of board of directors in other enterprise.”

Click on the above link for the Press Note.