Foreign Company buying shares of Indian Company upto 49% in

Querist : Anonymous (Querist) 07 November 2009 This query is : Resolved
Does a foreign company require NOC/permission /licence /permit etc for purchasing 49% shares of an Indian power sector company under FEMA or any other law ?

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A V Vishal (Expert) 07 November 2009
FDI allowed upto 100% in respect of projects relating to electricity generation, transmission and distribution, other than atomic reactor power plants. There is no limit on the project cost and quantum of foreign direct investment.

Permission of RBI is required and certain formalities under FEMA are required to be done, contact a chartered accountant who is specializing in FEMA matters for the needful to be done.

adv. rajeev ( rajoo ) (Expert) 08 November 2009
Yes permission is re1quired.

Raj Kumar Makkad (Expert) 08 November 2009
Yes. The Permission of RBI is required and certain formalities under FEMA are also required to be done in such matters though investment is welcome,

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