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Regulatory Relaxations for Startups- Clarifications relating to Issue of Shares

Dated 11th February, 2016 | Copy of | -COPY OFA.P. (DIR Series) Circular No.52 |

To,
All Authorised Dealer Category–I Banks

Regulatory Relaxations for Startups -
Clarifications relating to Issue of Shares

Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000, notified by the Reserve Bank vide Notification No. FEMA.20/2000-RB dated 3rd May 2000, as amended from time to time.

2. Pursuant to paragraph 14 of the Sixth Bi-Monthly Monetary Policy Statement for 2015-16, Reserve Bank of India vide Press Release dated February 2, 2016, had announced that in case of startups, certain permissible transactions under the existing regulatory framework shall be clarified. One of...

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