{"id":228467,"date":"2020-04-18T17:25:49","date_gmt":"2020-04-18T11:55:49","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=228467"},"modified":"2020-04-18T17:22:59","modified_gmt":"2020-04-18T11:52:59","slug":"government-amends-extant-fdi-policy-for-curbing-opportunistic-takeovers-acquisitions-of-indian-companies-in-view-of-covid-19-pandemic","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2020\/04\/18\/government-amends-extant-fdi-policy-for-curbing-opportunistic-takeovers-acquisitions-of-indian-companies-in-view-of-covid-19-pandemic\/","title":{"rendered":"Government amends &#8212; extant FDI policy for curbing opportunistic takeovers\/acquisitions of Indian companies in view of COVID-19 pandemic"},"content":{"rendered":"<p style=\"text-align: justify;\"><span style=\"color: #ff0000;\">Government of India has reviewed the extant Foreign Direct Investment(FDI) policy for curbing opportunistic takeovers\/acquisitions of Indian companies due to the current COVID-19 pandemic<\/span> and amended para 3.1.1 of extant FDI policy as contained in Consolidated FDI Policy, 2017. Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry has issued Press Note No. 3(2020 Series) in this regard.<\/p>\n<p style=\"text-align: justify;\">The present position and revised position in the matters will be as under:<\/p>\n<p style=\"text-align: justify;\"><strong>Present Position\u00a0<\/strong><\/p>\n<p style=\"text-align: justify;\">Para 3.1.1: A non-resident entity can invest in India, subject to the FDI Policy except in those sectors\/activities which are prohibited. However, a citizen of Bangladesh or an entity incorporated in Bangladesh can invest only under the Government route. Further, a citizen of Pakistan or an entity incorporated in Pakistan can invest, only under the Government route, in sectors\/activities other than defence, space, atomic energy and sectors\/activities prohibited for foreign investment.<\/p>\n<p style=\"text-align: justify;\"><strong>Revised Position\u00a0<\/strong><\/p>\n<p style=\"text-align: justify;\">Para 3.1.1:<\/p>\n<p style=\"text-align: justify;\">3.1.1(a) A non-resident entity can invest in India, subject to the FDI Policy except in those sectors\/activities which are prohibited. However, an entity of a country, which shares land border with India or where the beneficial owner of an investment into India is situated in or is a citizen of any such country, can invest only under the Government route. Further, a citizen of Pakistan or an entity incorporated in Pakistan can invest, only under the Government route, in sectors\/activities other than defence, space, atomic energy and sectors\/activities prohibited for foreign investment.<\/p>\n<p style=\"text-align: justify;\">3.1.1(b) In the event of the transfer of ownership of any existing or future FDI in an entity in India, directly or indirectly, resulting in the beneficial ownership falling within the restriction\/purview of the para 3.1.1(a), such subsequent change in beneficial ownership will also require Government approval.<\/p>\n<p style=\"text-align: justify;\">The above decision will take effect from the date of FEMA notification.<\/p>\n<hr \/>\n<p><strong>Ministry of Commerce &amp; Industry<\/strong><\/p>\n<p style=\"text-align: right;\">[Press Release dt. 18-04-2020]<\/p>\n<p style=\"text-align: right;\">[Source: PIB]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Government of India has reviewed the extant Foreign Direct Investment(FDI) policy for curbing opportunistic takeovers\/acquisitions of Indian companies due to the current <\/p>\n","protected":false},"author":8808,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,1193],"tags":[39839,40328,33600,40754,40755],"class_list":["post-228467","post","type-post","status-publish","format-standard","hentry","category-legislationupdates","category-notifications","tag-coronavirus","tag-covid-19-pandemic","tag-fdi-policy","tag-indian-companies","tag-opportunistic-takeovers"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Government amends -- extant FDI policy for curbing opportunistic takeovers\/acquisitions of Indian companies in view of COVID-19 pandemic | 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\/2020\/04\/18\/government-amends-extant-fdi-policy-for-curbing-opportunistic-takeovers-acquisitions-of-indian-companies-in-view-of-covid-19-pandemic\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Government amends -- extant FDI policy for curbing opportunistic takeovers\/acquisitions of Indian companies in view of COVID-19 pandemic\" \/>\n<meta property=\"og:description\" content=\"Government of India has reviewed the extant Foreign Direct Investment(FDI) policy for curbing opportunistic takeovers\/acquisitions of Indian companies due to the current\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.scconline.com\/blog\/post\/2020\/04\/18\/government-amends-extant-fdi-policy-for-curbing-opportunistic-takeovers-acquisitions-of-indian-companies-in-view-of-covid-19-pandemic\/\" \/>\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=\"2020-04-18T11:55:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/03\/ministry-of-commerce-industry.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1330\" \/>\n\t<meta property=\"og:image:height\" content=\"887\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Bhumika Indulia\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Bhumika Indulia\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/post\\\/2020\\\/04\\\/18\\\/government-amends-extant-fdi-policy-for-curbing-opportunistic-takeovers-acquisitions-of-indian-companies-in-view-of-covid-19-pandemic\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/post\\\/2020\\\/04\\\/18\\\/government-amends-extant-fdi-policy-for-curbing-opportunistic-takeovers-acquisitions-of-indian-companies-in-view-of-covid-19-pandemic\\\/\"},\"author\":{\"name\":\"Bhumika Indulia\",\"@id\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/#\\\/schema\\\/person\\\/919ec47cc1b871b362af05740398033a\"},\"headline\":\"Government amends &#8212; 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