PREVIOUS

ODB

Application for issue of ADRs/GDRs on back to back basis for overseas acquisitions

i) Name and address of the Indian Company :

ii) Status of Indian Company [public limited :
company, private limited company, public
sector undertaking or others (please specify)]

iii) Name of the Industrial Group/House to :
which the applicant company belongs

iv) Date of incorporation :

v) Existing line(s) of activity (activities) :

vi) Financial particulars of the Indian :
company for the last three years.



(Rs.in crores)
Financial year ended ________	Domestic Sales _______	Forex earnings by way of exports ________	Forex earnings (other than export of goods/services) __________	Net Profits/ (Loss) ______	Paid up capital ________	Net worth ________
(1)	(2)	(3)	(4)	(5)	(6)	(7)


vii) Particulars of the existing overseas JV/WOS set up/acquired by
the applicant company and its operational details for the last three years.



(Amount in foreign currency / million)
Name of the overseas concern and its location ________________	Approval No. issued by RBI ____________	Name of foreign Currency _____________	Amount of Investment
			Equity	Loan	Guarantee
(1)	(2)	(3)	(4)	(5)	(6)




Average annual turnover _______	Amount repatriated to India			Profit(loss) during the last year	Net worth as per the last balance sheet
	Dividend	Other	Exports
	realised		entitlements
(7)	(8)	(9)	(10)	(11)	(12)


viii) Amount of blanket approval limit being sought for and the justification therefor .
(Please see the instructions)

ix) If the applicant company or its sister concern/promoters/directors are under
Exporters’ Caution List of the Reserve Bank or their affairs are under
investigation by Directorate of Enforcement/other law enforcing agencies,
the brief particulars thereof and the present position may be indicated here.

Declaration
It is hereby certified that the information furnished above is true and correct. It is further certified that all the legal and other regulations/requirements in India and the host country of acquisitions will be complied with when the transactions for the acquisitions are put through after obtaining necessary approval from the Reserve Bank.

Place: ___________		___________________________ (Signature of the authorised official)
Date : ___________	Stamp/Seal	Name: --------------------------------
		Designation ---------------------------
List of enclosures :
1.		4.
2.		5.
3.		6.

Instructions for filling up the form ODB
1. The form complete in all respects should be submitted in triplicate to the Chief General Manager, Reserve Bank of India, Foreign Exchange Department, Central Office, Overseas Investment Department, Amar Building, Mumbai-400 001.

2. For foreign currency SWIFT codes may be used.

3. If any specific acquisition deal has been negotiated, the details thereof including the name of the overseas company being acquired, its performance for the last three years, share exchange ratio, acquisition price, valuation report

4. A brief write-up incorporating, inter alia, the tentative business plan of overseas acquisitions, country of location of such foreign companies and their line of activity and financial and operational particulars, rough estimates of acquisition cost and the basis thereof, likely benefits to the applicant company and the country from such acquisitions, such as, synergy between operations, dividend and other inflows, access to technology, incremental exports, etc. should be enclosed to this form. The information furnished will be kept confidential.

5. A note indicating likely benefits to the acquiring company may also be furnished as an Annexure.

ODG

Report on overseas acquisition made under the ADR/GDR Stock Swap Scheme

For Office Use. Date of Receipt: Approval No.: ccccccccccccc

I. General

a) Name and address of the Indian Company :	______________________ ______________________ ______________________ ______________________
b) Date of Incorporation	cccccccc D D M M Y Y Y Y
c) Line(s) of activity (activities) :	______________________ ______________________ ______________________
d) Financial details of the Indian company for the last three years :- (Rs. in crores) Financial year ended Domestic sales Forex Exchange earnings from exports Forex earnings (other than export of goods/services) Paid up capital Net Profit/(Loss) Net-worth (1) (2) (3) (4) (5) (6) (7)

II. Details of ADRs/GDRs issued on Stock Swap basis for the acquisition under report :

a) Number and Amount of ADRs/GDRs
issued for the purpose

b) (i) Name of the stock exchange on which
the ADRs/GDRs are listed

(ii) Name of the Issue Manager

c) Number of underlying share of the Indian
company for each ADR/GDR issue

d) (i) Acquisition price per share of the
overseas (acquired) company

(ii) Price of share recommended by the
Investment Banker

e) Price of each underlying share and ADR/GDR
of the Indian company (acquiring company)

f) Basis of valuation of price of the share of the
Indian company

g) Share Exchange Ratio
(Share price of the acquired company/
share price of the acquiring company)

III. Details of the foreign (acquired) company

a) Name and address of the company :	______________________ ______________________ ______________________ ______________________
b) Name(s) and address of the share holders of the acquiring company offering the shares in exchange	______________________ ______________________ ______________________ ______________________
c) Line(s) of activity (activities) of the company	______________________ ______________________ ______________________
d) Financial particulars of the company for the last 3 years (Amount in Foreign Currency/million) Accounting year ended Name of Foreign Currency Gross Sales/Turnover Net Profit/(Loss) Paid up capital Net-worth (1) (2) (3) (4) (5) (6)

iv) Post-acquisition equity structure of Indian company (acquiring company) and foreign company (acquired company)

(a) Indian Company (%of non-resident holding to total equity)		(b) Foreign Company (% of Indian holding to total equity)
Pre acquisition	Post acquisition	Pre acquisition	Post acquisition
______________	______________	______________	______________

v) Cumulative position of ADRs/GDRs issued for overseas acquisitions under the scheme

(Amount in Foreign Currency/million)
Sr. No.	Date of Issue	Amount of Issue	Issue price per ADR/GDR	Amount outstanding	Name of the foreign company acquired	Date of report to RBI in form ODG
(1)	(2)	(3)	(4)	(5)	(6)	(7)

vi) Any other information relevant to the acquisition under report

DECLARATION
It is certified that the information furnished above is true and correct. It is further certified that all the legal and other regulatory requirements in India and the host country of acquisition have been complied with.

Place: ___________		___________________________ (Signature of authorised official)
Date : ___________	Stamp & Seal	Name: --------------------------------
		Designation ---------------------------
Encls :
1.		4.
2.		5.
3.		6.

Instructions for filling up the form ODG

(This may be detached and retained by the Indian company)

1. ODG form complete in all respects should be submitted in triplicate to the Chief General Manager, Foreign Exchange Department, Reserve Bank of India, Central Office, Overseas Investment Division, Amar Building, Mumbai 400 001.

2. The following documents should be enclosed to this form :-

(A) A statement from the Statutory Auditors of the Indian company certifying that

(i) the Indian Party has already made an ADR and / or GDR issue and that such ADRs/GDRs are currently listed on any stock exchange outside India;

)such investment by the Indian Party does not exceed the higher of the following amounts, namely: -

iii. amount equivalent to 100 percent networth of the Indian Co.

iv. amount equivalent to 10 times the export earnings of the Indian Party during the preceding financial year as reflected in its audited balancesheet, inclusive of all investments made under Regulations in Part I, including under (i) of this clause, in the same financial year, (ii) the issued amount of the ADRs/GDRs exchanged for acquiring shares of the overseas (acquired) company is within the limit specified in the Foreign Exchange Management.(Transfer and Issue of Foreign Security) Regulations,2000 (iii) the ADRs and/or GDRs issued for the purpose of acquisitions are backed by underlying fresh equity shares of the Indian party;

(iv) after the new ADR and/or GDR issue, the total holding in the Indian party by persons resident outside India in the expanded capital base, does not exceed the sectoral cap prescribed under the relevant regulations for such investments in the activities in which the Indian party is engaged; and

(v) where the shares of the foreign (acquired) company are not listed in any stock exchange, its valuation for acquisition is in accordance with the recommendations of the Investment Banker

or

where the shares of the foreign (acquired) company is listed on a stock exchange abroad, the valuation of its shares is based on current market capitalisation of the acquired company arrived at on the basis of monthly average price on any stock exchange abroad for the 3 months preceding the month in which is the acquisition is committed and over and above, the premium, if any, as recommended by the Investment Banker in its due diligence report.

B) Copy of the report together with due diligence report, if any, from an Investment Banker in support of the valuation as indicated at above.

(C) Other relevant documents as submitted to the Stock Exchange/Regulatory Authorities in the host country of the company acquired.

ODI

Application to Reserve Bank of India for Direct Investment in a Joint Venture/ Wholly Owned Subsidiary Abroad

For office use only Date of Receipt --------------------------- Inward No. ---------------------------

All amounts of foreign currency (FCY) &Indian Rupees (INR) should be in thousands only, i.e., ‘000 should be omitted

Part A - General
I. Brief Particulars of proposed Investment

(i) Financial commitment (in FCY) --------------------

(ii) Country of location --------------

(iii) Nature of Investment

(A) Investment in a new project (i.e. fresh proposal) OR
(B) Investment in an existing project (i.e supplementary proposal)

Approval/Identification No.
ccccccccccccc
Please indicate 13 digit number issued by RBI

Purpose of Investment		Purpose of Investment
(a) Participant in JV	c	(a) Enhancement of equity of the existing JV/WOS	c
(b) Contribution in WOS	c	(b) Grant of/Enhancement of loan	c
(c) Full acquisition of a foreign concern	c	(c) Extension/Enhancement of Guarantee	c
(d) Partial acquisition of a foreign concern	c	(d) Others (Please specify)	c
(e) Others (please specify)	c

II. Line of Activity of the JV/WOS
(Please tick the relevant box)

(a) (i) Manufacturing	c	(b) Brief particulars of products to be manufactured/goods to be traded /services to be rendered ---------------------------------------------------- ----------------------------------------------------
(ii) Trading	c
(iii) Financial	c
(iv) Non Financial Services	c
(v) Others (Please specify)	c

III. Proposed capital structure of the JV/WOS

(a) Indian Party (ies) % stake	(b) Foreign Partner(s) % stake
in equity	in equity
1. ------------------------- ----------	1. ----------------------------- -------
2. ------------------------- ----------	2. ----------------------------- -------
3. ------------------------- ----------	3. ----------------------------- -------

Part –B - Particular of Indian Party(ies) and Foreign Partner(s) indicated at A. III above.

I. Indian Party

(Cases where there are more than one Indian party, information may be given on separate sheets for each of the parties)

(i) Name & Address

(ii) Date of Incorporation _____________

(iii) Date of Commencement of Business _____________

(iv) Status * _____________

(v) Existing Line of Activity ____________

(vi) Years of experience in the line of Activity. ______________

(vii) % of Non-resident interest in the share capital of the Indian Party ______________

* (a) Public Ltd. Company (1), (b)Private Limited Company (2), (c) Public Sector Undertaking (3), (d) Others (4) (Please specify).

(viii) Financial particulars of the Indian Party for the last 3 years

Accounting year	Domestic sales	Foreign exchange earnings from exports (excluding equity exports to existing JV/WOS)	Foreign exchange earnings other than from exports	Net Profit/(Loss)	Paidup capital	Net worth
(1)	(2)	(3)	(4)	(5)	(6)	(7)
1 2 3

(ix). Particulars of existing Joint Ventures (JV) and Wholly Owned Subsidiaries (WOS) already in operation or under implementation ,of the Indian party and its group concerns and foreign exchange earnings from these concerns :

(Amount in FCY)
Sr. No	Name of Indian Party	Name of JV/WOS/Country	Approval No. allotted by Reserve Bank	Amount of investment
				Equity	Loan	Guarantee
(1)	(2)	(3)	(4)	(5)	(6)	(7)
1 2 3 4 5

Total Repatriations (R) vis-à-vis Entitlements (E) (entitlements & repatriations in the last 3 years to be given in brackets)				Total non-equity of export made so far (figures for last three years to be given in brackets)
Dividend		Others		Projected exports	Exports made	Outstanding, if any
(E)	(R)	(E)	(R)
(8)	(9)	(10)	(11)	(12)	(13)	(14)
1 2 3 4 5

II. Particulars of the Foreign Partner(s)/concern
(To be filled in case of foreign investment in JVs only. Cases where there are more than one foreign partner, information may be given on separate sheets for each of the collaborators)

(a) Name & Address of the foreign partner/concern: _______________________________________

(b) Date of incorporation

(c) Years of experience in the
proposed field of
collaboration

(d) Financial particulars of the foreign partner/concern during the last 3 years:

(Amount in FCY)
Accounting Year ending	Sales	Net profits/(loss)	Paid-up Capital	Net worth	Dividend %
(1)	(2)	(3)	(4)	(5)	(6)

Part –C - Performance of the JV/WOS
(To be filled in case of supplementary proposals only)
I. Date of latest Annual Performance Report (APR) submitted to Reserve Bank

cccccccc
D D M M Y Y Y Y
II. Date of Incorporation               III. Date of commencement of business

cccccccc                  cccccccc
D D M M Y Y Y Y                        D D M M Y Y Y Y

IV. Capital structure of the JV/WOS

(Amount in FCY)
(a) Indian Equity
Approved % age to		Actual %age to
amount	total equity	investment	total equity
(i)	(ii)	(iii)	(iv)

(b) Mode of Indian equity investment

(i) Cash Remittance

(ii) Capitalisation of

(a) Exports of plant
& Machinery/goods

(b) Others (Please specify)

(iii) GDR/ADR proceeds

(iv) Swap of shares

(v) Bonus shares

(vi) Out of EEFC balances

(vii) Others (please specify)

Total :

(c) Foreign equity: i) Amount _________ ii ) % to total equity ___________

V. (a) Position of Term Loan (TL) /Working Capital (WC) Loan availed of by JV/WOS

(Amount in FCY)
	Amount approved		Outstanding amount		Overdue amount , if any
	TL	WC	TL	WC	TL	WC	Total TL + WC
(i)From Indian Party (ii)From foreign partner (iii)From Indian banks/ financial institutions (iv) Others (Please specify)
Total:

(b) Position of guarantees extended to JV/WOS

(Amount in FCY)
	Amount of guarantee approved/extended	Amount invoked/claimed (if any)	Date of Invocation	Amount paid so far
(i) By Indian Party (ii)By foreign party (iii)By banks/financial institutions in India (iv) By banks/financial institutions outside India (v) Others (Please specify)

VI. Operational details of the JV/WOS for the last three years

(Amount in FCY)
	(Year ended)	(Year ended)	(Year ended)
	(1)	(2)	(3)
(i) Gross Sales/Turnover (ii) Net Profit/(Loss) (iii) Dividend (iv) Net Worth

VII. Entitlements(E) and Repatriation ( R) from the JV/WOS

	(During the last year ended)	(Since commencement of business)	(Total outstanding entitlement due for repatriation)
(i) Dividend (ii) Others* (Please specify) (iii) Non equity exports realised (iv) FDI Inflows

* ( Royalties, technical know-how fees, consultancy fees, etc.)

VIII. Present proposal in brief with supporting reasons:

_________________________________________________________________
_________________________________________________________________
_________________________________________________________________
_________________________________________________________________
_________________________________________________________________
_______________________________________________

Part-D- Financial Package of JV/WOS
(If the project is to be implemented in phases, separate sheets showing phasewise distribution of cost should be attached and only the total of all the phases should be indicated below)

Rate of exchange applied for the projections.

1 US $ = INR ________
FCY ______ _Units = US $ ________

II. Estimated cost of the project *                       (Amount in FCY)

(i) Cost of capital equipment

(ii) Cost of land

(iii) Cost of civil works

(iv) Cost of misc. fixed assets

(v) Preliminary & preoperative expenses

(vi) Contingencies

(vii) Others (Please specify)

Total :
* In case of supplementary proposals, the revised cost of the project may be indicated

III. Financing of the estimated project cost:

	Equity		Term loan(TL)/Working Capital (WC)			Guarantee
	Amount of Equity	% age to total equity	Amount/ Period/Rate of Interest			Amount Period
(A) By Indian Party(ies) (i) (ii) (iii) SubTotal :
(B) By Foreign Partners (i) (ii) (iii) Sub Total
C) By Banks/FIs/others i) ii) iii) Sub Total
Total of A to C

(Equity share capital plus term loan above should be equal to the total cost of the project as at II above.)

IV Method of Investment                                                    (Amount in FCY)

(a) By the Indian party
(i) Cash remittance

(ii) Capitalisation of
(A) Export of plant &
machinery/goods
(B) Others (Please
specify)

(iii) ADRs/GDRs raised
abroad

(iv) Swap of shares

(v) Others( Please specify)

Total

(b) By the foreign partner
(i) Cash
(ii) Fixed assets
(iii) Loans
(iv) Others (Please specify)
Total

(c) Funding of Indian investment
(i) Self-generated funds

(ii) Assistance under
Overseas Investment
Finance Scheme of the
EXIM Bank, if applicable

(iii) Resources raised through
ADRs/ GDRs

(iv) Loans from banks/financial
institutions

(v) Out of balance in EEFC
Account

(vi) Swap of shares

(vii) Others (Please specify)

Total

V. Management of the foreign concern. (Whether the Indian party will have management control? If yes, give brief particulars of management/managerial functions to be discharged by the Indian party).

PART - E-Financial projections of the fresh/ revised financial projections in case of supplementary investment proposals

I. Profitability Projections:                                             (Amount in FCY)

Years of operation

			1	2	3	4	5
(a)	Gross sales/turnover
(b)	Operating cost excluding depreciation and interest
(c)	Depreciation
(d)	Interest
	(i)	On term loans
	(ii)	On Working Capital loans
(e)	Tax
(f)	Net Profit)/(Loss)
(g)	Dividend
(h)	Transfer to reserves
(i)	Accumulated reserves & surplus /(loss)
(j)	Net-worth

II. Repatriable entitlements of Indian Party, net of host country tax, during the next 5 years of operation
(Amount in FCY)

Years of operation

		1	2	3	4	5	Total
(a)	Dividend
(b)	Technical know-how fees
(c)	Royalty
(d)	Engineering/Technical services fees
(e)	Consultancy/Management fees
(f)	Selling agency commission
(g)	Others (Please specify )
	Total

III. Projected for non equity/incremental exports                  (Amount in INR)
Years of operation

	1	2	3	4	5	Total
FOB Value

IV. (a) Whether the applicant party/ies, its promoters, directors, etc. have come under investigations by Enforcement Directorate. If yes, the brief details thereof including present stage of investigation/adjudication/manner of disposal of the case should be furnished.

(b) Whether the promoter Indian party/ies is/are presently on the Exporters’ Caution -list of RBI for non-realisation of export proceeds. If so, the present position may be indicated.

V. Any other information relevant to this proposal, including any special benefits/incentives available in the host country for setting up/acquiring the proposed concern:

VI. Name and address, telephone, telex and fax numbers of the branch of the authorised dealer through whom remittance towards the investment will be made.

_________________________________________________________________
_________________________________________________________________
_________________________________________________________________
_______________________________________

[ DECLARATION ]
I/We hereby certify that the information furnished above are true and correct.

Place: ___________	Stamp/Seal		___________________________ (Signature of authorised official)
Date : ___________
Name: ---------------------------
Designation ----------------------
List of enclosures :
1.		4.
2.		5.
3.		6.

ANNEXURE

Instructions for filling up the Form ODI
(This part should be detached and retained by the applicant)

(1) Application complete in all respects should be submitted in three sets together with the following documents to the Chief General Manager, Reserve Bank of India, Foreign Exchange Department, Central Office, Overseas Investment Division (OID), Amar Building, Mumbai - 400 001 :

(a) Draft Joint Venture Agreement (or Memorandum & Articles of Association in the case of a Wholly Owned Subsidiary) specifying the equity structure, management, rights and responsibilities of shareholders and also draft agreement(s) for supply of technical know-how, management and other services, if applicable.

(b) A detailed project/feasibility report incorporating, inter alia, projected funds flow statement and balance sheets for five years, the information on various leverage and profitability ratios like debt-equity ratio, debt service coverage ratio, return on investments, etc. of the foreign concern accompanied by the statement from a Chartered Accountant certifying the ratios and projections, given in the application/report.

(c) A report from the bankers of the Indian party in sealed/closed cover.

(d) The latest Annual Accounts, i.e. Balance Sheet and Profit and Loss Account along with the Directors’ Report of the Indian party and of the foreign collaborator in case of a joint venture.

(e) Additional documents as under, if the application is made for partial/full take over of an existing foreign concern :-

(i) A copy of the certificate of incorporation of the foreign concern;

(ii) Latest Annual Accounts, i.e. the Balance Sheet and Profit and Loss Account along with Directors’ report of the foreign concern ; and

(iii) A copy of the share valuation certificate from

(i) where the investment is more than US $ 5 (five) million, by a Category I Merchant Banker registered with SEBI or an Investment Banker/Merchant Banker registered with the appropriate regulatory authority in the host country; and

(ii) in all other cases, by a Chartered Accountant or a Certified Public Accountant

(f) A report from the bankers of the Indian party in sealed/closed cover.

(g) The latest Annual Accounts, i.e. Balance Sheet and Profit and Loss Account along with the Directors’ Report of the Indian party and of the foreign collaborator in case of a joint venture.

(f) A copy of the resolution of the Board of Directors of the Indian party/(ies) approving the proposed investment.

(g) Where investment is in the financial services sector, a certificate from a Chartered Accountant/Auditor's firm to the effect that the Indian Party :

(i) has earned a net profit during the preceding three years from the financial services activity;

(ii) is registered with the appropriate regulatory authorities;

(iii) has obtained approval for investment in financial sector activities abroad from concerned regulatory authorities in India and abroad; and

(iv) fulfilled the prudential norms relating to capital adequacy as prescribed by the concerned regulatory authority in India

2. Where there are more than one Indian promoter of the JV/WOS, only one application should be submitted on behalf of all the promoters.

3 (a) In case an Indian party is seeking approval for acquisition of overseas concern through bidding/tender procedure (with/without remittance of any earnest money deposit (EMD)/issue of bid bond guarantee), Indian Party should approach the Reserve Bank atleast one month in advance from the last date for submission of bid to the overseas authority with the following documents :

(i) application in form ODI, to the extent applicable;

(ii) certified relevant extracts of the terms and conditions of bid;

(iii) Chartered Accountant’s certificate indicating the valuation of shares and assets of the overseas concern justifying the acquisition price, where applicable; and

(iv) a project/feasibility report.

(b). In the case where the bid is won by the Indian Party but the terms and conditions of the acquisition are different from those furnished earlier to the Reserve Bank, the Indian Party should apply afresh to the Reserve Bank in form ODI for prior approval before putting through the transaction.

ODR

Report on Remittances for Overseas Direct Investment by Authorised Dealers

All amounts in Foreign Currency(FCY) and Indian Rupees (INR) should be in thousand only.

For use by RBI only
Date of Receipt	Inward No.
Identification No. ccccccccccccc

Name and address of the authorised dealer :	___________________________________________________ ___________________________________________________ ___________________________________________________
Telephone No. :	_____________________
FAX No. :	_____________________
e-mail :	_____________________
A.D. Code :	_____________________.

If the investment is in the existing JV/WOS, please indicate Identification/Approval No. already allotted :

No.

I. GENERAL

Nature and category of the investment [Please tick ( a) the appropriate box] :
A. Fresh Proposal		B. Supplementary Proposal
(i) Participation in JV abroad		(i) Enhancement of equity in existing JV/WOS abroad
(ii) Contribution in WOS		(ii) Grant/enhancement of loan in existing JV/WOS
(iii) Full/partial* takeover of an existing foreign concern		(iii) Extension/enhancement of guarantee
(iv) Acquisition of a company overseas through bidding or tender procedure		(iv) Others (Please specify)

(* Strike out whichever is not applicable)

II. PARTICULARS OF INDIAN PARTY

(a) Name and Address of the Indian party Tel. No. Fax No. e-mail :		_______________________________________________ _______________________________________________ _______________________________________________ _____________________ _____________________ _____________________
(b) Status*
(c) Name of the Industrial House/Group to which the Indian party belongs
(d) (i) Existing line of activity of the Indian party (Please tick the appropriate box)		(ii) Brief particulars of the products manufactured/goods traded/services rendered
Manufacturing
Trading
Financial Services
Non-Financial Services
Others (please specify)
(e) Years of experience in the existing line of activity :

* (a) Public Ltd. Company (1), (b) Private Ltd. Company (2) (c) Public Sector Undertaking (3), (d) Others (4) (Please specify)

III. PARTICULARS OF THE FOREIGN PARTNER/CONCERN(in case of JV)

(a) Details of the foreign partner/concern
Name	:	____________________________________________________
Address	:	____________________________________________________ ____________________________________________________
Telephone No.	:	________________________________
FAX No.	:	________________________________
e-mail	:	________________________________
(b) Years of experience in the proposed field of collaboration :

IV. PARTICULARS OF JV/WOS

(i) Name and Address of the JV/WOS	:	_______________________ _____________________________ ______________________________
Address	:	____________________________________________________ ____________________________________________________
Telephone No.	:	________________________________
FAX No.	:	________________________________
e-mail	:	________________________________

(ii) Country of location:
(iii)Line of activity of the JV/WOS (Please tick the appropriate box)		(iv) Brief particulars of the products manufactured/goods traded/services rendered
(a) Manufacturing
(b) Trading
(c) Financial Services
(d) Non-financial Services
(e) Others ( Please specify)
(v) Percentage holding by Indian Party (in case of JV) :		Percentage holding by foreign partner (in case of JV) :
(vi) Time-frame for implementation of the project :
(vii) Accounting year followed in the host country :

V. PROFITABILITY PROJECTIONS OF THE OVERESEAS JV/WOS

(Amount in FCY)**
Years of Operation
	1	2	3	4	5	Total
(a) Gross sales/turnover
(b) Net Profit(Loss)
(c) Dividend
(d) Net worth

VI. PROJECTED REPATRIABLE ENTITLEMENTS

(Amount in FCY)**
Years of Operation
	1	2	3	4	5	Total
(a) Dividend
(b) Others (Please specify)
Total

VII. PROJECTED NON-EQUITY EXPORTS

(Amount in INR)
Years of Operation
	1	2	3	4	5	Total
FOB Value

VIII. DETAILS OF REMITTANCES EFFECTED

Investments under Automatic Route/approval issued by the Reserve Bank (Strike out whichever is not applicable)
Currency**
Amount of the proposed investment :
Equity	Loan	Guarantee	Date of Remittance
Details of actual remittance effected :
(a) From EEFC A/c.
Equity	Loan	Guarantee(Invoked)	Date of Remittance
(b) By Market Purchases
Equity	Loan	Guarantee(Invoked)	Date of Remittance
(c) From the ADR/GDR funds parked in India/outside India (Strike out whichever is not applicable)
Equity	Loan	Guarantee(Invoked)	Date of Remittance
(d) By Swap of Shares
Equity	Loan	Guarantee(Invoked)	Date of Swap
		XX
(e) From ECB/ FCCB balances
Equity	Loan	Guarantee(Invoked)	Date of Transaction
(f) Capitalisation of Exports/Other dues
Date of capitalization:			Amount:
(h) Guarantee issued: Date (Fresh / Already Existing Guarantee Period Extended )			Amount:
Validity Period

@ Please specify the other dues being capitalised viz., royalty, technical know-how fee, consultancy fees, etc.

** Please indicate name of the foreign currency(FCY) as per SWIFT code.

We hereby confirm that the remittance* has been allowed under the Automatic Route based on the certification given by the statutory auditors (in form ODA) confirming compliance with the prescribed terms and conditions by the Indian party/*is in accordance with the terms and conditions of the approval letter issued by the Reserve Bank./*in respect of the invoked guarantee has been made after satisfying that the claim is in conformity with the terms and conditions of the guarantee issued to/on behalf of the JV/WOS abroad.

* strike out whichever is not applicable

Place _________________ Date __________________	Stamp/Seal	____________________________ Signature of the Authorised Official of the Bank Name : ____________________ Designation : __________________ Tel.No. : __________________ FAX No. : __________________

Note :

This form should be forwarded to the Overseas Investment Division, Central Office, Foreign Exchange Department, Reserve Bank of India, Amar Building(Third Floor), Fort, Mumbai 400 001 immediately after making the remittance/capitalisation of exports, other dues, etc.

Appendix

List of Circulars/Notifications consolidated in the Master Circular Direct Investment in Joint Ventures/ Wholly Owned Subsidiaries abroad

Sl. No.	Circular No.	Date
1.	AP(DIR Series) Circular No.3	June 22, 2000
2.	AP(DIR Series) Circular No.13	September 14, 2000
3.	AP(DIR Series) Circular No.32	April 28, 2001
4.	AP(DIR Series) Circular No.16	December 15, 2001
5.	AP(DIR Series) Circular No.18	December 18, 2001
6.	AP(DIR Series) Circular No.23	February 19, 2002
7	AP(DIR Series) Circular No.27	March 2, 2002
8.	AP(DIR Series) Circular No.43	April 30, 2002
9.	AP(DIR Series) Circular No.51	June 24, 2002
10.	AP(DIR Series) Circular No. 58	December 2, 2002
11.	AP(DIR Series) Circular No. 66	January 13,2003
12.	AP (DIR Series) circular No. 68	January 13,2003
13.	AP(DIR Series) Circular No. 83	March 1, 2003
14.	AP(DIR Series) Circular No. 96	April 28, 2003
15.	AP(DIR Series) Circular No. 97	April 29, 2003
16.	AP (DIR Series) circular No. 104	May 31, 2003
17.	AP (DIR Series) circular No. 107	June 19,2003
18.	AP (DIR Series) Circular No.41	December 6, 2003
19.	AP (DIR) Series) Circular No.42	December 6, 2003
20.	AP (DIR Series) Circular No.47	December 12, 2003
21.	AP (DIR Series) Circular No.57	January 13, 2004
22.	AP (DIR Series) Circular No.75	February 23, 2004
23	AP (DIR Series) Circular No.90	May 3, 2004
24	AP (DIR Series) Circular No.14	October 01, 2004
25	AP (DIR Series) Circular No.32	February 09, 2005
26	AP (DIR Series) Circular No.42	May 12, 2005

Notifications issued

Sl. No.	Notification No.	Date
1.	FEMA.120/RB-2004	July 07, 2004
2.	FEMA.132/RB-2005	March 31, 2005

Presented by eximkey.com