12 June, 2018
RBI on June 7, 2018 has issued a notification in relation to the manner of reporting of foreign investment by Indian entities (including subsidiaries of foreign entities) wherein RBI will introduce a Single Master Form (SMF) which would be filed online by all Indian entities for reporting investments in India.
However, prior to the implementation of the SMF, RBI would provide an interface to all Indian entities which have received foreign direct investment to input data on total foreign investment received in a specified format.
Indian entities not complying with the aforesaid pre-requisite will not be able to receive further foreign investment (including indirect foreign investment) and will be non-compliant with Foreign Exchange Management Act, 1999 and regulations made thereunder. The notification is available at the following link here.
For further information, please contact:
Vineet Aneja, Partner, Clasis Law
vineet.aneja@clasislaw.com
