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FOREIGN EXCHANGE MANAGEMENT ACT PDF

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(1) This Act may be called the Foreign Exchange Management Act, reference in any such provision to the commencement of this Act shall be construed. FERA. • To further strengthen the control and regulate, the then congress government enacted a new law Foreign Exchange Regulation Act. The Foreign Exchange Management Act, (FEMA) is an Act of the Parliament of India "to . Archived from the original (PDF) on 9 September Retrieved.

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Foreign Exchange Management Act

This regulation lays down the mechanisms relating to mergers, amalgamation and arrangements between Indian and Foreign Companies. This Regulation will cover both inbound and outbound investments. The resultant company will be an Indian company. The resultant company will be a foreign company. These regulations are in continuation to the provisions of Section of the Companies Act, and Companies Compromises, Arrangements and Amalgamations Rules, that provides for the process and provisions facilitating mergers and amalgamations between an Indian company and a foreign company i.

Merger of a foreign company with an Indian company and 2. Merger of an Indian company with a foreign company incorporated in any of the prescribed jurisdictions. It will help Multi-National Companies MNCs who are willing to consolidate their business operations by way of merger of their Indian entity with companies in other jurisdictions. The guidelines are now specified and hence, it will give better clarity of every aspect to all Indian companies which have their verticals and operations outside India.

The chance of litigation will be curtailed as better understanding and valuation parameters are already set out for business houses. Foreign Company Foreign company means any company or body corporate incorporated outside India whether having a place of business in India or not.

Pdf management act foreign exchange

Indian Company Indian company means a company incorporated under the Companies Act or under any previous company law. Resultant Company Resultant company means an Indian company or a foreign company which takes over the assets and liabilities of the companies involved in the cross border merger.

The conditions mentioned under Foreign Exchange Management Transfer or issue of any foreign security Regulations, will have to be complied with in case where the foreign company is a joint venture or a wholly owned subsidiary of the Indian company. The Regulation 6 and 7 of Foreign Exchange Management Transfer or issue of any foreign security Regulations, shall need to be complied with if the merger with the joint venture or the wholly owned subsidiary results into an acquisition.

Management foreign pdf exchange act

Liberalised Remittance Scheme. Under the aforesaid Regulations, the resultant Indian company would be allowed to undertake any transactions as permitted to a branch or an office.

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FERA came into force with effect from January 1, FERA was introduced at a time when foreign exchange Forex reserves of the country were low, Forex being a scarce commodity. Coca-Cola was India's leading soft drink until when it left India after a new government ordered the company to turn over its secret formula for Coca-Cola and dilute its stake in its Indian unit as required by the Foreign Exchange Regulation Act FERA.

In , the company along with PepsiCo returned after the introduction of India's Liberalization policy. This was done in order to relax the controls on foreign exchange in India. FERA was repealed in by the government of Atal Bihari Vajpayee and replaced by the Foreign Exchange Management Act, which liberalised foreign exchange controls and restrictions on foreign investment.

The downloading and selling of foreign currency and other debt instruments by businesses, individuals and governments happens in the foreign exchange market. Apart from being very competitive, this market is also the largest and most liquid market in the world as well as in India. It constantly undergoes changes and innovations, which can either be beneficial to a country or expose them to greater risks.

The management of foreign exchange market becomes necessary in order to mitigate and avoid the risks.

Central banks would work towards an orderly functioning of the transactions which can also develop their foreign exchange market. It is necessary to keep adequate amount of foreign exchange from Import Substitution to Export Promotion.

Pdf act exchange foreign management

The switch to FEMA shows the change on the part of the government in terms of for the capital. FCRA, has been enacted by the Parliament to consolidate the law to regulate the acceptance and utilization of foreign contribution or foreign hospitality by certain individuals or associations or companies and to prohibit acceptance and utilization of foreign contribution or foreign hospitality for any activities detrimental to national interest and for matters connected therewith or incidental thereto.

This sum has been specified as Rs.

Explanation 1 — A donation, delivery or transfer or any article, currency or foreign security referred to in this clause by any person who has received it form any foreign source, either directly or through one or more persons, shall also be deemed to be foreign contribution with the meaning of this clause.

From Wikipedia, the free encyclopedia. The Foreign Exchange Management Act, An Act to consolidate and amend the law relating to foreign exchange with the objective of facilitating external trade and payments and for promoting the orderly development and maintenance of foreign exchange market in India.

Pdf management foreign exchange act

Citation Act No. In force The Foreign Exchange Management Act, FEMA is an Act of the Parliament of India "to consolidate and amend the law relating to foreign exchange with the objective of facilitating external trade and payments and for promoting the orderly development and maintenance of foreign exchange market in India".

FEMA - Foreign Exchange Management Act Notes, PDF And PPT

Law portal. Dept of Revenue, Govt of India. Archived from the original PDF on 9 September Retrieved 9 September Business Environment.