{"id":178624,"date":"2017-12-27T17:08:38","date_gmt":"2017-12-27T11:38:38","guid":{"rendered":"http:\/\/www.scconline.com\/blog\/?p=178624"},"modified":"2021-04-07T15:46:01","modified_gmt":"2021-04-07T10:16:01","slug":"new-fdi-approval-regime","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2017\/12\/27\/new-fdi-approval-regime\/","title":{"rendered":"New FDI approval regime"},"content":{"rendered":"

Foreign Investment Promotion Board (FIPB), an inter-ministerial body responsible for processing of Foreign Direct Investment (FDI) proposals in India, played a piv\u00adotal role in Indian FDI landscape for about a quarter of a century. FIPB was initially constituted under the Prime Minister\u2019s Office (PMO) in the wake of India\u2019s economic liberalisation drive of the early 1990s, and then reconstituted in 1996 with transfer of FIPB to the Department of Industrial Policy and Promotion (DIPP). FIPB kept consistently evolving with time to be more investor friendly. It suc\u00adcessfully implemented the e-filing (substituting the old system of bulky multi-sets paper filing) and online processing of FDI applica\u00adtions. Meeting notices, agenda, approval list, etc. along with other useful information were promptly notified on a dedicated website to apprise the investors about their applications.<\/p>\n

Pursuant to the aforesaid eco\u00adnomic liberalisation in 1991, major\u00adity of the FDI proposals required prior government approval, which was accorded by FIPB. Very few cases of FDI qualified for automatic approval, in respect of which only intimations were to be fi led with Reserve Bank of India. As successive Indian Governments kept liberalis\u00ading the FDI regime more and more to attract further investments, the proportion of proposals falling under the automatic route kept growing and workload of FIPB keep decreasing. The Government of India, particularly over the past cou\u00adple of years, opened up the econ\u00adomy for FDI in a drastic way and discarded the requirement of prior government approval for invest\u00adments in many sectors. Currently, only some FDI proposals falling under few sectors such as defence, pharmaceuticals and retail trading require to be green-lighted by FIPB.<\/p>\n

Therefore, the role of FIPB had been gradually falling and as high as 90% of new FDI proposals quali\u00adfied for approval under the auto\u00admatic route. The Government of India was also seriously concerned about stagnant or falling ratings under the \u201cEase of Doing Business\u201d indices and is committed to mak\u00ading Foreign Direct Investment (FDI) process easier for prospective investors.<\/p>\n

Ultimately, the Government decided to wind up FIPB. The deci\u00adsion was formally pronounced in the Budget speech on 1-2-2017 by the Finance Minister, Mr Arun Jaitley. This proposed move was a precursor to more liberal reforms to the FDI Policy. The perception of India as a difficult country to do business in had to change. Keeping its word, the Government issued a Standard Operating Procedure (SOP) on 29-6-2017.<\/p>\n

As per the SOP, new proposals for FDI in sectors\/activities requir\u00ading government approvals would be filed on the revamped FIPB por\u00adtal, renamed as Foreign Investment Facilitation Portal (www.fifp.gov.in<\/a>). This portal is to serve as new online single point interface of the Government of India for investors to facilitate FDI.<\/p>\n

An applicant should submit the FDI proposal on FIFP por\u00adtal in the prescribed format and upload documents. DIPP will iden\u00adtify the Administrative Ministry\/Department (competent author\u00adity) concerned and e-transfer the proposal to it within 2 days. If an application is digitally signed, no physical copy is to be submitted. Otherwise, DIPP would inform the applicant to submit a signed physi\u00adcal copy of the application to the competent authority.<\/p>\n

Competent authorities have been enlisted in the SOP. In respect of sectors\/activities which are pres\u00adently under automatic route but required government approval earlier, Administrative Ministry\/Department concerned would be competent authority for the grant of post facto approvals for FDI. In case of any doubt, DIPP shall identify the Administrative Ministry\/Department where the application will be processed for decision.<\/p>\n

With a view to make the new regime to simplify the execution and expeditious disposal of appli\u00adcations, competent authorities shall not replicate an inter-ministerial body in respective Ministries or Departments to grant approval. Within 2 days of receipt of a proposal, DIPP shall circulate it to Reserve Bank of India (RBI) for its comments from Foreign Exchange Management Act perspective. Proposals in sectors requiring secu\u00adrity clearance would additionally be referred to Ministry of Home Affairs. All proposals would be forwarded to Ministry of External Affairs \u2014 the requirement of sending all pro\u00adposals to Department of Revenue has been done away with. These Ministries\u2019 comments will be given directly to the Ministry\/Department concerned.<\/p>\n

Investments in broadcasting, telecom, satellites, private security agencies, defence, civil aviation, certain cases in mining and miner\u00adals and investments from Pakistan and Bangladesh require security clearance from Ministry of Home Affairs.<\/p>\n

Specific issues of proposals which require clarification on FDI policy may be referred to DIPP, such consultation to be need based and not routine. DIPP will provide clarification within 15 days on such issues. Similarly, consultation with any other Ministry or Department will require full justification. Therefore, less red-tapeism and passing the buck is expected.<\/p>\n

Ministries\/Departments con\u00adsulted on any proposal are to upload their comments on FIFP portal within 4 weeks, else, it would be presumed that they have no comments. Ministry of Home Affairs should provide comments within 6 weeks or inform the expected time-frame for providing its com\u00adments. Competent authority shall scrutinise the application and seek further information\/documents, if required, within 1 week. The SOP expects the scrutiny and comments from all Ministries concerned within 6 weeks and intimation of approval\/rejection within next 2 weeks.<\/p>\n

Proposals involving FDI inflow of more than Rs 50 billions should be placed before the Cabinet Committee on Economic Affairs (CCEA) within the above timelines. Approval letter should be issued within 1 week of CCEA decision.<\/p>\n

Where the competent author\u00adity proposes to reject an FDI pro\u00adposal or in cases where additional approval conditions are to be stipulated, the competent author\u00adity must seek DIPP\u2019s concurrence within 8\/10 weeks from the receipt of proposal.<\/p>\n

For the first time, the SOP also enlists a time-frame for disposal of applications. Time only will tell whether these timelines are strictly adhered to. However, this should put pressure on the authorities con\u00adcerned not to keep sitting on the files.<\/p>\n

The abolition of FIPB and set\u00adting up of the new approval system is expected to reduce the exist\u00ading bureaucratic and regulatory burden for foreign investors, and decrease transaction timelines for investments in India. Further, one can hope that this change will sim\u00adplify procedures and aid in ease of doing business in India.<\/p>\n

The new mechanism seems to have taken lessons from the past when the applicants were left high and dry after submission and there were no strict timelines for the authorities to revert. The author has been witness to certain proposals taking up to 6 months for a decision after several rounds of supplemen\u00adtary information, reminders, stink\u00aders and meetings. With the new SOP in place, one can look forward to a seamless experience and a cer\u00adtain level of timeliness and account\u00adability on part of Administrative Ministries\/Departments or the Ministries whose inputs are sought on particular applications.<\/p>\n

As a result of various measures taken by the Government, India has jumped 30 places in World Bank\u2019s \u201cEase of Doing Business\u201d report that came out recently. Once we have a full one year experience of the new FDI approval regime, it could lead to much better environment and another significant jump in such ratings by the same time next year.<\/p>\n

\u00a0<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

by Bhumesh Verma, Managing Partner, Corp Comm Legal, can be contacted at bhumeshverma@corpcommlegal.com<\/p>\n","protected":false},"author":91,"featured_media":178654,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1191,45506],"tags":[26994],"class_list":["post-178624","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-op-ed","category-practical-lawyer-archives","tag-fdi-proposals"],"yoast_head":"\nNew FDI approval regime | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2017\/12\/27\/new-fdi-approval-regime\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New FDI approval regime\" \/>\n<meta property=\"og:description\" content=\"by Bhumesh Verma, Managing Partner, Corp Comm Legal, can be contacted at bhumeshverma@corpcommlegal.com\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.scconline.com\/blog\/post\/2017\/12\/27\/new-fdi-approval-regime\/\" \/>\n<meta property=\"og:site_name\" content=\"SCC Times\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/scc.online\/\" \/>\n<meta property=\"article:published_time\" content=\"2017-12-27T11:38:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-04-07T10:16:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/12\/FDI.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1330\" \/>\n\t<meta property=\"og:image:height\" content=\"700\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Saba\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Saba\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2017\/12\/27\/new-fdi-approval-regime\/\",\"url\":\"https:\/\/www.scconline.com\/blog\/post\/2017\/12\/27\/new-fdi-approval-regime\/\",\"name\":\"New FDI approval regime | SCC Times\",\"isPartOf\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2017\/12\/27\/new-fdi-approval-regime\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2017\/12\/27\/new-fdi-approval-regime\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/12\/FDI.jpg\",\"datePublished\":\"2017-12-27T11:38:38+00:00\",\"dateModified\":\"2021-04-07T10:16:01+00:00\",\"author\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/e8e76b10dfc9c0d576324bfdbb2c2785\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2017\/12\/27\/new-fdi-approval-regime\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.scconline.com\/blog\/post\/2017\/12\/27\/new-fdi-approval-regime\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2017\/12\/27\/new-fdi-approval-regime\/#primaryimage\",\"url\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/12\/FDI.jpg\",\"contentUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/12\/FDI.jpg\",\"width\":1330,\"height\":700},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2017\/12\/27\/new-fdi-approval-regime\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.scconline.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"New FDI approval regime\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\",\"url\":\"https:\/\/www.scconline.com\/blog\/\",\"name\":\"SCC Times\",\"description\":\"Bringing you the Best Analytical Legal News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.scconline.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/e8e76b10dfc9c0d576324bfdbb2c2785\",\"name\":\"Saba\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/a815285315cd85d8b3246c60ed8ed99825949c1b85b370c49212daa54ededa98?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/a815285315cd85d8b3246c60ed8ed99825949c1b85b370c49212daa54ededa98?s=96&d=mm&r=g\",\"caption\":\"Saba\"},\"url\":\"https:\/\/www.scconline.com\/blog\/post\/author\/editor_2\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"New FDI approval regime | SCC Times","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.scconline.com\/blog\/post\/2017\/12\/27\/new-fdi-approval-regime\/","og_locale":"en_US","og_type":"article","og_title":"New FDI approval regime","og_description":"by Bhumesh Verma, Managing Partner, Corp Comm Legal, can be contacted at bhumeshverma@corpcommlegal.com","og_url":"https:\/\/www.scconline.com\/blog\/post\/2017\/12\/27\/new-fdi-approval-regime\/","og_site_name":"SCC Times","article_publisher":"https:\/\/www.facebook.com\/scc.online\/","article_published_time":"2017-12-27T11:38:38+00:00","article_modified_time":"2021-04-07T10:16:01+00:00","og_image":[{"width":1330,"height":700,"url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/12\/FDI.jpg","type":"image\/jpeg"}],"author":"Saba","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Saba","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.scconline.com\/blog\/post\/2017\/12\/27\/new-fdi-approval-regime\/","url":"https:\/\/www.scconline.com\/blog\/post\/2017\/12\/27\/new-fdi-approval-regime\/","name":"New FDI approval regime | SCC Times","isPartOf":{"@id":"https:\/\/www.scconline.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2017\/12\/27\/new-fdi-approval-regime\/#primaryimage"},"image":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2017\/12\/27\/new-fdi-approval-regime\/#primaryimage"},"thumbnailUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/12\/FDI.jpg","datePublished":"2017-12-27T11:38:38+00:00","dateModified":"2021-04-07T10:16:01+00:00","author":{"@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/e8e76b10dfc9c0d576324bfdbb2c2785"},"breadcrumb":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2017\/12\/27\/new-fdi-approval-regime\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.scconline.com\/blog\/post\/2017\/12\/27\/new-fdi-approval-regime\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/post\/2017\/12\/27\/new-fdi-approval-regime\/#primaryimage","url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/12\/FDI.jpg","contentUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/12\/FDI.jpg","width":1330,"height":700},{"@type":"BreadcrumbList","@id":"https:\/\/www.scconline.com\/blog\/post\/2017\/12\/27\/new-fdi-approval-regime\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.scconline.com\/blog\/"},{"@type":"ListItem","position":2,"name":"New FDI approval regime"}]},{"@type":"WebSite","@id":"https:\/\/www.scconline.com\/blog\/#website","url":"https:\/\/www.scconline.com\/blog\/","name":"SCC Times","description":"Bringing you the Best Analytical Legal News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.scconline.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/e8e76b10dfc9c0d576324bfdbb2c2785","name":"Saba","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/a815285315cd85d8b3246c60ed8ed99825949c1b85b370c49212daa54ededa98?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a815285315cd85d8b3246c60ed8ed99825949c1b85b370c49212daa54ededa98?s=96&d=mm&r=g","caption":"Saba"},"url":"https:\/\/www.scconline.com\/blog\/post\/author\/editor_2\/"}]}},"jetpack_featured_media_url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/12\/FDI.jpg","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":133521,"url":"https:\/\/www.scconline.com\/blog\/post\/2017\/05\/25\/cabinet-approves-phasing-out-foreign-investment-promotion-board\/","url_meta":{"origin":178624,"position":0},"title":"Cabinet approves phasing out Foreign Investment Promotion Board","author":"Saba","date":"May 25, 2017","format":false,"excerpt":"The Union Cabinet \u00a0has given its approval to the phasing out of Foreign Investment Promotion Board (FIPB). The proposal entails abolishing the FIPB and allowing administrative Ministries\/Departments to process applications for FDI requiring government approval.\u00a0Henceforth, the work relating to processing of applications for FDI and approval of the Government thereon\u2026","rel":"","context":"In "Hot Off The Press"","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":7120,"url":"https:\/\/www.scconline.com\/blog\/post\/2015\/02\/18\/new-portal-for-e-filing-of-applications-for-foreign-direct-investment-fdi-launched\/","url_meta":{"origin":178624,"position":1},"title":"New Portal for E-filing of applications for Foreign Direct Investment (FDI) launched","author":"Sucheta","date":"February 18, 2015","format":false,"excerpt":"On 17-02-2015, the Department of Economic Affairs, Ministry of Finance launched a new upgraded and secured user friendly website i.e., http:\/\/fipb.gov.in \u00a0for filing and processing of applications for Foreign Direct Investment (FDI) requiring Government approval. The object behind the launching of a new website is to enhance transparency and accountability\u2026","rel":"","context":"In "Hot Off The Press"","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/10\/scc-blog_Page_9.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/10\/scc-blog_Page_9.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/10\/scc-blog_Page_9.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/10\/scc-blog_Page_9.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/10\/scc-blog_Page_9.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":52251,"url":"https:\/\/www.scconline.com\/blog\/post\/2016\/06\/20\/government-further-liberalises-fdi-norms\/","url_meta":{"origin":178624,"position":2},"title":"Government further liberalises FDI norms","author":"Sucheta","date":"June 20, 2016","format":false,"excerpt":"The Union Government has radically liberalized the FDI regime today, with the objective of providing major impetus to employment and job creation in India. The decision was taken at a high-level meeting chaired by Prime Minister Narendra Modi today. This is the second major reform after the last radical changes\u2026","rel":"","context":"In "Business Law"","block_context":{"text":"Business Law","link":"https:\/\/www.scconline.com\/blog\/post\/category\/Business_Law\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/05\/indian-airlines.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/05\/indian-airlines.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/05\/indian-airlines.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/05\/indian-airlines.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/05\/indian-airlines.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":104171,"url":"https:\/\/www.scconline.com\/blog\/post\/2017\/02\/05\/high-net-worth-nbfcs-can-now-participate-in-ipos-at-par-with-banks-and-insurance-companies\/","url_meta":{"origin":178624,"position":3},"title":"High net worth NBFCs can now participate in IPOs at par with Banks and Insurance Companies","author":"Saba","date":"February 5, 2017","format":false,"excerpt":"While presenting the General Budget 2017-18 in Lok Sabha, the Union Finance Minister, Shri Arun Jaitley proposed that the Foreign Investment Promotion Board (FIPB) will be phased-out in the next fiscal. Expressing concern over dubious deposit schemes, Shri Jaitley said that a Bill will soon be tabled in Parliament to\u2026","rel":"","context":"In "Hot Off The Press"","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":222828,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/12\/04\/sc-bars-chidambaram-from-giving-press-interviews-while-granting-him-bail-in-inx-media-case\/","url_meta":{"origin":178624,"position":4},"title":"SC bars Chidambaram from giving press interviews, while granting him bail in INX Media case","author":"Bhumika Indulia","date":"December 4, 2019","format":false,"excerpt":"Supreme Court: The Bench comprising of R. Banumathi, A.S. Bopanna and Hrishikesh Roy, JJ., addressed the appeal filed by the former Finance Minister, P. Chidambaram assailing the final order passed by Delhi High Court wherein regular bail to the appellant was declined. Genesis of the Case [Brief Facts] Following is\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":238428,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/11\/03\/foreign-direct-policy-fdi-consolidated-fdi-policy-2020-read-the-key-aspects\/","url_meta":{"origin":178624,"position":5},"title":"Foreign Direct Policy (FDI) | Consolidated FDI Policy, 2020: Read the Key Aspects","author":"Editor","date":"November 3, 2020","format":false,"excerpt":"Foreign Direct Investment (FDI) is considered as a major source of non-debt financial resource for economic development. FDI flows into India have grown consistently since liberalization and are an important component of foreign capital since FDI infuses long term sustainable capital in the economy and contributes towards technology transfer, development\u2026","rel":"","context":"In "Legislation Updates"","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2020\/11\/fdi-2.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2020\/11\/fdi-2.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2020\/11\/fdi-2.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2020\/11\/fdi-2.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2020\/11\/fdi-2.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/178624","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/91"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=178624"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/178624\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/178654"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=178624"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=178624"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=178624"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}