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English Release 20-October 2014
Date Month Year
  • President's Secretariat
  • President of India conveys greetings and best wishes to the President of Indonesia
  • Prime Minister's Office
  • Foreign Minister of Nepal calls on PM
  • PM congratulates Mr. Joko Widodo on being sworn in as the President of Indonesia
  • Text of Prime Minister Narendra Modi’s speech at the 42nd Annual Convocation Ceremony of AIIMS, New Delhi
  • PM delivers Convocation Address at the 42nd Convocation of AIIMS
  • Min of Agriculture
  • Indigenous Breed of Cow Has Great Potential to Increase Farm Income – Dr. Sanjeev Balyan
  • Min of Commerce & Industry
  • Union Commerce & Industry Minister Smt Nirmala Sitaraman launches website on e-governance initiatives of Coffee Board
  • Streamlining the Procedure for Grant of Industrial Licenses
  • Min of Corporate Affairs
  • Form ADT-1 available for filing
  • Min of Defence
  • Air Chief Marshal Arup Raha’s Visit to Japan
  • Senior Defence Officers Trained at Pune for assuming Senior Roles in Civil Industry
  • INS Teg Visits Simon's Town, South Africa for IBSAMAR
  • Ministry of Finance
  • Bankruptcy Reforms Committee
  • Min of Health and Family Welfare
  • PM to inaugurate World Ayurveda Conference on November 6
  • Min of Home Affairs
  • Police Commemoration Day to be observed tomorrow
  • Min of Information & Broadcasting
  • IIMC to be upgraded to a Communication University: Shri Prakash Javadekar
  • Min of Labour & Employment
  • Labour Minister Sh Narendra Singh Tomar calls for ‘balanced approach’ towards labourers
  • Union Government is Committed to Protect the Interests of Workers: Sh Narendra Singh Tomar
  • Min of Personnel, Public Grievances & Pensions
  • Dr. Jitendra Singh takes up issue of aggrieved students of ‘Prime Minister’s Special Scholarship Scheme for J&K’ with HRD Minister
  • Min of Petroleum & Natural Gas
  • Global crude oil price of Indian Basket was US$ 85.06 per bbl on 17.10.2014
  • Min of Skill Development, Entrepreneurship, Youth Affairs and Sports
  • India Won 6 Medals at 2nd Asian Para Games 2014 on 19th October, 2014
  • Min of Textiles
  • Textiles Minister inaugurates “Silk Fab” exhibition
  • Min of Urban Development
  • 400 new quarters made available for government employees in New Delhi
  • Ministry of Water Resources
  • Expert Advisory Group Constituted to Render Assistance to Matters Pertaining to Water Sector

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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