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English Release 20-August 2014
Date Month Year
  • President's Secretariat
  • President of India condoles the passing away of Shri Bks Iyengar
  • Conference of Chairmen, Board of Governors and Directors of Indian Institutes of Technology to be held on August 22
  • Prime Minister's Office
  • PM condoles the passing away of Yogacharya BKS Iyenger
  • PM presents DRDO awards
  • Min of Defence
  • Port Call INS Sahyadri at Manila, Philippines
  • Ministry of Finance
  • Public Comments sought on Draft of Forward Contracts (Regulation) (Intermediaries) Rules, 2014
  • Min of Home Affairs
  • Director General Level Talks Between NCB, India and PNB, Sri Lanka
  • Home Minister Launches the Plan Scheme of Mainstreaming Civil Defence in Disaster Risk Reduction
  • FCRA Outreach Seminar in Maharashtra
  • Min of Personnel, Public Grievances & Pensions
  • ACC Appointment
  • Min of Petroleum & Natural Gas
  • Global crude oil price of Indian Basket decreased to US$ 99.94 per bbl on 19.08.2014
  • Min of Power
  • PM to Dedicate 765 kV Ranchi-Dharamjaygarh-Sipat Inter-Regional Transmission Line ;
  • Prime Minister to Dedicate Mouda Super Thermal Power Project to the Nation in Nagpur Tomorrow
  • Ministry of Tourism
  • State Tourism Ministers Conference to be held in New Delhi on 21st August 2014
  • Ministry of Water Resources
  • 2015-2016 to be Observed as Water Conservation Year One Uninterrupted Stream of Ganga to be Ensured within Three Years Says Uma Bharti

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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