The Reserve Bank of India has recently released draft rules to replace the Foreign Exchange Management (Non-debt Instruments) Rules, 2019. Some important changes are being proposed as regards the fair value at which a foreign buyer can purchase Indian company shares, the types of “equity” instruments to be covered, investments by foreign controlled entities, etc.
While some of the changes are good, others will need to be thought through.
Please go through our PPT for more information.
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