Recently, the Department of Industrial Policy and Promotion (DIPP) prescribed a comprehensive format allowing investors and businesses to seek formal clarifications in connection with the Indian FDI policy regime. For the vast Indian legal community having an M&A, PE or a general corporate practice, the introduction of such a format is a half-hearted respite. Respite, because they need no longer content themselves with informal clarifications obtained through the interactive DIPP website. Half-hearted, because the format requires the querist to make ample disclosures, including the identity of the foreign investor, the Indian investee and details of the transaction.
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