1. Amendment to Regulation 13 (Reporting Requirements) of FEMA FDI Regulations,2017
With effect from 1st September,2018 reporting requirement for any investment made in India by a person resident outside India has undergone following amendments:
- Reporting requirement of Advance Remittance Form (ARF) within 30 days of receipt of amount for issue of capital instruments has been omitted.
- An Indian entity or an investment Vehicle making downstream investment in another Indian entity which is considered as indirect foreign investment for the Indian entity in terms of Downstream Investment (Regulation 14 of FEMA FDI Regulations,2017) shall file “Form DI with the Reserve Bank of India (RBI) within 30 days from the date of allotment of capital instruments”.
- An Investment Vehicle which has issued its units to a person resident outside India shall file “Form InVi with the RBI within 30 days from the date of issue of units”.
Reference: G.S.R. 823(E) dated 30th August, 2018 issued by RBI.