ANNOUNCEMENT 21 Dec 2012In December 2012, the government of India announced changed rules for foreign investors.
NUMBER OF INTERVENTIONS
On 21 December 2012, the Ministry of Finance amended the regulations for foreign investments in Asset Reconstruction Companies (ARCs) as follows:
An Asset Reconstruction Company is involved in taking over Non Performing Assets/distressed assets of banks and financial institutions and later sell repackaged assets.
The FDI limit was increased to 100% on 16 July 2013 (see related State Act).