DoT amends NLD and ILD licenses (other than UL) for change in FDI in telecom sector

COMPANY

1.1  FDI upto 100% with 49% under automatic route and beyond 49% through FIPB route subject to observance of licensing and security conditions by licensee as well as investors as notified by the DoT from time to time.

(i) Both direct and indirect foreign investment in the Licensee Company shall be counted for the purpose of calculating total FDI.

(ii) The licensee Company/ Indian Promoters/ Investment Companies including their holding companies shall comply relevant provisions of extant FDI policy of the Government. While approving the investment proposals, FIPB may take into  account security concerns.

(iii) FDI shall be subject to laws of  India and not the laws of the foreign country/countries.

COMPANY

1.1 FDI upto 100% under automatic route subject to observance of licensing and security conditions by licensee as well as investors as notified by the DoT from time to time.

Notwithstanding= with the above provision, foreign investment shall be subject to following conditions:

(i) 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.

(ii) 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 clause no. (i) above, such subsequent change in beneficial ownership will also require Government approval.

(iii) Both direct and indirect foreign investment in the Licensee Company shall be counted for the purpose of calculating total FDI.

(iv) The licensee Company/ Indian Promoters/ Investment Companies including their holding companies shall comply relevant provisions of extant FDI policy of the Government. While approving the investment proposals, the Government may take into accounts security concerns.

(v) FDI shall be subject to laws of India and not the laws of the foreign country/countries. The Licensee shall comply with the relevmt provisions of FDI policy of the Government and such modifications to the policy as may be issued from time to time.

(vi) The words, mentioned hereinabove in Para 1.1, such as FDI, foreign equity, investment companies, FIPB, etc., shall have the same meaning as defined by Department for Promotion of Industry and Internal Trade (DPIIT) in its FDI Policy.

COMPANY

2.1 FDI upto 100% with 49% under automatic route and beyond 49% through FIPB route subject to observance of licensing and security conditions by licensee as well as investors as notified by the DoT from time to time.

(iv) Both direct and indirect foreign investment in the Licensee Company shall be counted for the purpose of calculating total FDI.

(v) The licensee Company/ Indian Promoters/ Investment Companies including their holding companies shall comply relevant provisions of extant FDI policy of the Government. While approving the investment proposals, FIPB may take into  account security concerns.

(vi) FDI shall be subject to laws of  India and not the laws of the foreign country/countries.

COMPANY

2.1 FDI upto 100% under automatic route subject to observance of licensing and security conditions by licensee as well as investors as notified by the DoT from time to time.

Notwithstanding with the above provision, foreign investment shall be subject to following conditions:

(iv) 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.

(v) 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 clause no. (i) above, such subsequent change in beneficial ownership will also require Government approval.

(vi) Both direct and indirect foreign investment in the Licensee Company shall be counted for the purpose of calculating total FDI.

(iv) The licensee Company/ Indian Promoters/ Investment Companies including their holding companies shall comply relevant provisions of extant FDI policy of the Government. While approving the investment proposals, the Government may take into accounts security concerns.

(v) FDI shall be subject to laws of India and not the laws of the foreign country/countries. The Licensee shall comply with the relevmt provisions of FDI policy of the Government and such modifications to the policy as may be issued from time to time.

(vi) The words, mentioned hereinabove in Para 1.1, such as FDI, foreign equity, investment companies, FIPB, etc., shall have the same meaning as defined by Department for Promotion of Industry and Internal Trade (DPIIT) in its FDI Policy.