Government of India
Ministry of Commerce & Industry
Department of Industrial Policy & Promotion
Press Note No. 2(2013 Series)
Subject : Foreign Direct investment Policy definition of ˜group company™
1.0 The Government has decided to incorporate the following definition of ˜group company™ in the FDI Policy contained in ˜Circular 1 of 2013 Consolidated FDI Policy™, effective from 05-04-2013:
| 2.1 | Definitions |
| 2.1.15 bis | Group company means two or more enterprises which, directly or indirectly, are in a position to :(i) exercise twenty six per cent, or more of voting rights in other enterprise; or(ii) appoint more than fifty per cent, of members of board of directors in the other enterprise. |
2.0 The above decision will take immediate effect.
(D. V. Prasad)
Joint Secretary to the Government of India
D/o IPP File No. : No. 5/3/2005-FC.I dated 3 June 2013
Copy forwarded to:
1. Press Information Officer, Press Information Bureau- for giving necessary publicity.
2. BE Section in the Department of Industrial Policy and Promotion-for uploading the Press Note on DIPP’s website.
3. Hindi Division, DIPP for providing Hindi version.
