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Can an Indian company in the financial services sector make investment in a JV/WOS abroad in the non-financial services

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 ROHIT SINGH asked almost 3 years ago

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 veeru answered over 2 years ago

i. has earned net profit during the preceding three financial years from the financial services activities; ii. is registered with the appropriate regulatory authority in India for conducting financial services activities; iii. has obtained approval for undertaking such activities from the regulatory authorities concerned both in India and abroad before venturing into such financial activity; iv. has fulfilled the prudential norms relating to capital adequacy as prescribed by the regulatory authority concerned in India; and Any additional investment by an existing JV / WOS or its step down subsidiary in the financial services sector is also required to comply with the above conditions.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 veeru answered almost 3 years ago

i. has earned net profit during the preceding three financial years from the financial services activities; ii. is registered with the appropriate regulatory authority in India for conducting financial services activities; iii. has obtained approval for undertaking such activities from the regulatory authorities concerned both in India and abroad before venturing into such financial activity; iv. has fulfilled the prudential norms relating to capital adequacy as prescribed by the regulatory authority concerned in India

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Open uri20170510 32134 s5bvk0?1494421637 ARJUN PRATAP SINGH answered almost 3 years ago

Dear Friend, as far as your query is concerned that Can an Indian company in the financial services sector make investment in a JV/WOS abroad in the non-financial services Let me informed that Regulated entities engaged in financial services sector activities in India making investment in non-financial services activities overseas are also required to comply with the additional conditions i. has earned net profit during the preceding three financial years from the financial services activities; ii. is registered with the appropriate regulatory authority in India for conducting financial services activities; iii. has obtained approval for undertaking such activities from the regulatory authorities concerned both in India and abroad before venturing into such financial activity; iv. has fulfilled the prudential norms relating to capital adequacy as prescribed by the regulatory authority concerned in India; and Any additional investment by an existing JV / WOS or its step down subsidiary in the financial services sector is also required to comply with the above conditions. Hope answer was helpful to you Regards, Arjun Pratap Singh

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