FDI

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Mohit Garg (Querist)
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24 June 2009 Dear Experts,

Please share ur views on the following query:

A company is into Single Brand Retail in which FDI upto 51% is allowed with prior approval of GoI.
Entire paid up capital is held by group of 1 NRI, 3 PIO and 1 Indian.

Would like to know the sectrol cap for investment by NRI & PIO in Single Brand Retail.
Would the equity investment held by NRI & PIO shall be counted for the limit of 51%.

Thanks
Mohit

CS Vivek Hegde

CS Vivek Hegde (Expert)
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24 June 2009 Dear Mohit

Yes it is..

investment by NRI/PIO wil be considered as FDI. In case of Real Estate sector only NRI has some diferent recognition.

rgds

Vivek