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English Release 17-September 2014
Date Month Year
  • Prime Minister's Office
  • Chinese President and First Lady visit Sabarmati Riverfront, accompanied by the PM
  • PM and Chinese President visit Sabarmati Ashram.
  • PM and Chinese President Xi Jinping witness signing of 3 MoUs in Ahmedabad
  • PM launches Swavlamban Abhiyaan - new pro-poor initiatives of the Gujarat Government
  • Min of Agriculture
  • Finance to 5 Lakh Joint Farming Groups of “Bhoomi Heen Kisan” through Nabard in the Current Financial Year
  • Min of Commerce & Industry
  • Deputy USTR Meets Commerce Secretary
  • India to be Partner Country in Hannover Messe Fair During April 2015
  • Gilead Briefs Nirmala Sitharaman about their Licensing Agreements with Seven India-Based Generic Pharmaceutical Manufacturers
  • Min of Defence
  • Operation Megh Rahat : 17 sep 14 Restoration of connectivity
  • Opening Ceremony : Exercise Yudh Abhyas 2014
  • Ministry of Finance
  • Bank of Maharashtra Celebrates its 80th Foundation Day; Crosses the Business Level of Rs 2 Lakh Crores
  • CMD, IFCI Ltd. Presents A Dividend Cheque of Rs. 92.30 Crore to the Union Finance Minister
  • Min of Health and Family Welfare
  • Medical Relief Operation Stepped up in J&K
  • Min of Home Affairs
  • A delegation of Unified Naga Council calls on the Union Home Minister
  • Union Minister for Surface Transport & Highways and Shipping Calls on Union Home Minister
  • Uttarakhand Minister calls on Union Home Minister
  • Union Home Minister to attend Sixth Meeting of SAARC Ministers of Interior / Home at Kathmandu
  • Min of Labour & Employment
  • Shri Narendra Singh Tomar presents Vishwakarma and Safety Awards
  • Min of Micro,Small & Medium Enterprises
  • Govt Lobbying Hard for Base Rate Interest Regime for MSME : Kalraj Mishra
  • Min of Minority Affairs
  • Dr.Najma Heptulla Announces Rs.120 Crore Relief and Rehabilitation Package for J&K Flood Victims
  • Min of Petroleum & Natural Gas
  • Daily Crude oil price of Indian Basket was US$ 95.92/bbl on 16.09.2014
  • Ministry of Railways
  • Commodity-Wise Freight Revenue Earnings of Railways Goes Up by 16.70 Per Cent in August 2014 & 10.67 Per Cent During April-August 2014
  • Min of Textiles
  • Textiles Minister Honours 54 Women Achievers in Sericulture
  • Min of Women and Child Development
  • Press Note of Union Ministry of Women & Child Development

Previous Date

 
Ministry of Commerce & Industry01-August, 2013 21:39 IST
Review of the policy on foreign direct investment-definition of the term "control", for calculation of total foreign investment i.e. direct and indirect foreign investment in Indian companies

The Cabinet Committee on Economic Affairs has approved the proposal of the Department of Industrial Policy & Promotion for amendment to the existing definition of "control" under the FDI policy. The revised definition will be as follows:

Until now, the definition of "control", in the extant FDI policy is as under: "A company is considered as "controlled" by resident Indian citizens if the resident Indian citizens and Indian companies, which are owned and controlled by resident Indian citizens, have the power to appoint a majority of its directors in that company".

The CCEA has now approved to define “control” as below:
" 'Control' shall include the right to appoint a majority of the directors or to control the management or policy decisions including by virtue of their shareholding or management rights or shareholders agreements or voting agreements."

The revised definition of 'control' will expand the definition of 'control' to cover 'control' exercisable inter-alia through management and policy decisions, shareholding, management rights, shareholder agreements and ensure alignment with the definition as per the Substantial Acquisition of Shares and Takeovers (SAST) Regulations, 2011 and the definition proposed in the Companies Bill, 2012.

***


SC/NK/SKS
(Release ID :97545)

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