FDI in LLP

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Premnarayan Tripathi

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Sep 8, 2012, 7:03:54 AM9/8/12
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Dear Friends,

 

Please suggest latest circulars/regulations related with FDI in LLP based in India.

 

Thanks & regards,

CS. Premnarayan Tripathi

PRT & Associates,

Company Secretaries

201, Sarthik Square, Nr. GNFC Info Tower,

S G Highway, Ahmedabad - 380054

Tel: (O) 079 6545 1206

(M): +91 89800 26497

E-mail: premnar...@gmail.com

 

Devesh Pandey

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Sep 8, 2012, 8:06:40 AM9/8/12
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Dear Premnarayan

 

FDI provisions related to FDI in LLP is contained in the consolidated FDI policy issued by the Department of Industrial Policy and Promotion (www.dipp.nic.in). However, you may refer the following article of FDI in LLP for broader idea.

 

http://cacscorporatelaw.blogspot.in/2012/09/foreign-directinvestment-in-limited.html

 

Best regards,

Devesh Pandey

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R V Seckar

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Sep 8, 2012, 8:10:29 AM9/8/12
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Hello,
 
FDI is allowed in LLPs under Approval Route.
 
For more details , please visit the following links:
 
 
 
Regards
 
R.V.Seckar

Premnarayan Tripathi

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Sep 14, 2012, 6:48:37 AM9/14/12
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Dear Friends,

 

Thanks for your valuable inputs.

 

However, I am producing an extract from portal www.femaindia.com for your reference.

Foreign Direct Investment in Limited Liability Partnership

The Government of India as recently gave its principle approval for allowing Foreign Direct Investment in LLP. But till date , the necessary amendments are made in FEMA Act and regulations , no proposal for FDI in LLP will be considered by Government of India.

From the underlined portion, I wonder whether LLP can avail FDI as on date?

 

Your views are solicited……………………

 

Thanks & regards,

CS. Premnarayan Tripathi

PRT & Associates,

Company Secretaries

201, Sarthik Square, Nr. GNFC Info Tower,

S G Highway, Ahmedabad - 380054

Tel: (O) 079 6545 1206

(M): +91 89800 26497

E-mail: premnar...@gmail.com

 

Devesh Pandey

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Sep 14, 2012, 6:56:07 AM9/14/12
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Dear Premnarayan

 

LLP can avail FDI as it has already been permitted. Approach FIPB, convince them, you will get an approval. Since, PC has taken over the charge of Finance Ministry, pending FIPB proposals have been cleared. As a professional your job is to approach FIPB and you should do that.

I am wondering to see the extract of the lines you have posted:

“no proposal for FDI in LLP will be considered by Government of India”

How they came to that no proposal will be considered by the Government. Do they have an understanding with the Government or they are astrologers?

Premnarayan Tripathi

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Sep 14, 2012, 7:07:27 AM9/14/12
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Dear Mr. Devesh,

 

1.      I think you are separating “FIPB” with “Govt. of India”!! For FDI, FIPB is the Govt.

 

2.      I am still in doubt that on what basis the FIPB will give permission for FDI in LLP only because the policy is issued by DIPP? As per understanding, until the authority is provided by the RBI through any Regulation, no policy will come into force.

 

Would appreciate if you can please share practical experience of obtaining approval of FDI in LLP form FIPB.

 

Thanks & regards,

CS. Premnarayan Tripathi

PRT & Associates,

Company Secretaries

201, Sarthik Square, Nr. GNFC Info Tower,

S G Highway, Ahmedabad - 380054

Tel: (O) 079 6545 1206

(M): +91 89800 26497

E-mail: premnar...@gmail.com

 

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