Irda against 100% FDI in insurance cos in SEZs

by sasha » Wed May 03, 2006 05:49 am
Posts: 203
Joined: 27 Mar 2006

The Insurance Regulatory and Development Authority (Irda) has told the finance ministry that the foreign direct investment (FDI) limit for insurance companies operating in special economic zones (SEZs) should be at par with general industry norms.

Total Comments: 2

Posted: Wed Aug 24, 2011 02:49 am Post Subject: qRfaLjPNPGEUHZiLX

At last! Someone who unedsrtands! Thanks for posting!

Posted: Fri Jun 22, 2012 07:02 pm Post Subject: OCYdlmWWScj

It is clear from the opening poirton of Clause 5.2.2 of Press Note 2 that if the investing Indian company is a 50:50 JV with equal ownership and control, any downstream investment by such company will be considered to be foreign investment as the investing company is neither 'owned and controlled' by a resident Indian citizen nor is it owned or controlled by a non-resident entity.

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