Ownership of the LICENSEE Company. 1.1 The LICENSEE shall ensure that the total foreign equity in the paid up capital of the LICENSEE Company does not, at any time during the entire Licence period, exceed 74% of the total equity. The details of the Indian & Foreign promoters/shareholders with their respective equity holdings in the LICENSEE Company as disclosed on the date of signing of the Licence agreement, are as follows: Sl. No. Name of Shareholders Indian/ Foreign Percent of Equity held 1.
Ownership of the LICENSEE Company. 1.1 The Licensee shall ensure that the total foreign equity in the paid up capital of the Licensee Company does not, at any time during the entire License period, exceed 74% of the total equity (except for services for which different FDI cap has been prescribed) subject to the following FDI (Foreign Direct Investment) norms:
Ownership of the LICENSEE Company. 11.1 FDI upto 100% under automatic route subject to observance of licensing and security conditions by licensee as well as investors as notified by the DoT from time to time. Notwithstanding with the above provision, foreign investment shall be subject to following conditions:
Ownership of the LICENSEE Company. 1.1 1FDI upto 100% with 49% under automatic route and beyond 49% through FIPB route subject to observance of licensing and security conditions by licensee as well as investors as notified by the DoT from time to time.
Ownership of the LICENSEE Company. 1.1 The LICENSEE shall ensure that the total foreign equity in the LICENSEE Company does not, at any time during the entire LICENCE PERIOD, exceed the sectoral cap of Foreign Direct Investment of the total paid up equity. The details of the Indian & Foreign promoters with their respective equity holdings in the LICENSEE company as disclosed by the LICENSEE company on the date of signing of the LICENCE AGREEMENT, are as follows: Sl No Name of the promoter Indian / Foreign Percentage of Paid up Equity
Ownership of the LICENSEE Company. The LICENSEE shall ensure that the total foreign equity in the paid up capital of the LICENSEE Company does not, at any time during the entire Licence period, exceed 74% of the total equity. The details of the Indian & Foreign promoters/shareholders with their respective equity holdings in the LICENSEE Company as disclosed on the date of signing of the Licence agreement, are as follows: Sl. No. Name of Shareholders Indian/ Foreign Percent of Equity held Both direct and indirect foreign investment in the licensee company shall be counted for the purpose of FDI ceiling. Foreign Investment shall include investment by Foreign Institutional Investors (FIIs), Non-resident Indians (NRIs), Foreign Currency Convertible Bonds (FCCBs), American Depository Receipts (ADRs), Global Depository Receipts (GDRs) and convertible preference shares held by foreign entity. Indirect foreign investment shall mean foreign investment in the company/ companies holding shares of the licensee company and their holding company/companies or legal entity (such as mutual funds, trusts) on proportionate basis. Shares of the licensee company held by Indian public sector banks and Indian public sector financial institutions will be treated as `Indian holding’. In any case, the `Indian’ shareholding will not be less than 26 percent. The details of direct and indirect foreign investment as disclosed on the date of signing of the Licence Agreement are as follows: Xx.Xx. Name Details of Direct & Indirect foreign Investment FDI up to 49 percent will continue to be on the automatic route. FDI in the licensee company/Indian promoters/investment companies including their holding companies, shall require approval of the Foreign Investment Promotion Board (FIPB) if it has a bearing on the overall ceiling of 74 percent. While approving the investment proposals, FIPB shall take note that investment is not coming from countries of concern and/or unfriendly entities. The investment approval by FIPB shall envisage the conditionality that Company would adhere to licence Agreement. FDI shall be subject to laws of India and not the laws of the foreign country/countries. Except prior permission in writing by Licensor there shall be no change in the Foreign promoter(s) or their equity participation . Normally there will be no objection in substituting an existing foreign promoter by another foreign promoter of similar standing subject to the total foreign equity being below the prescribed limit. The LICENSEE Co...
Ownership of the LICENSEE Company. 1.1 The licensee shall ensure that the total foreign equity in the LICENSEE Company does not, at any time during the entire Licence period, exceed 49% of the total equity. The details of the Indian & Foreign promoters with their respective equity holdings in the LICENSEE Company as disclosed on the date of signing of the LICENSE AGREEMENT, are as follows: - - - - - -- -- - -- - ------ - - - - - - -- 1.2 There shall be no change in the Indian and Foreign promoter(s) or their equity participation unless permitted by the LICENSOR in writing. 1.3 The licensee company may, with prior written consent of the Licensor replace a promoter(s) by another promoter(s) of equal or higher standing as stipulated below: (a) an existing foreign promoter may be substituted by another foreign promoter of similar standing; (b) the existing Indian Promoter(s) may also be allowed to acquire the foreign promoter’s shareholding; and (c) transfer of equity inter-se between existing Indian promoters may be permitted, provided the majority Indian promoter continues 1. OWNERSHIP OF THE LICENCEE COMPANY 1.A The total composite foreign holding including but not limited to investments by Foreign Institutional Investors (FIIs), Non-resident Indians (NRIs), Foreign Currency Convertible Bonds (FCCBs), American Depository Receipts (ADRs), Global Depository Receipts (GDRs), convertible preference shares, proportionate foreign investment in Indian promoters/investment companies including their holding companies, etc., herein after referred as FDI, will not exceed 74 per cent. The 74 per cent foreign investment can be made directly or indirectly in the operating company or through a holding company and the remaining 26 per cent will be owned by resident Indian citizens or an Indian Company (i.e. foreign direct investment does not exceed 49 percent and the management is with the Indian owners). It is clarified that proportionate foreign component of such an Indian Company will also be counted towards the ceiling of 74%. However, foreign component in the total holding of Indian public sector banks and Indian public sector financial institutions will be treated as ‘Indian’ holding. The licensee will be required to disclose the status of such foreign holding and certify that the foreign investment is within the ceiling of 74% on a half yearly basis. 1.B The majority Directors on the Board including Chairman, Managing Director and Chief Executive Officer (CEO) shall be resident Indian citizens. The a...
Ownership of the LICENSEE Company. 1.1 The Foreign Direct Investment (FDI) limit is enhanced from 49 to 74 per cent in Public Mobile Radio Trunking Service(PMRTS) with following conditions:-
Ownership of the LICENSEE Company. 1.1 The Applicant should be an Indian company, registered under the Indian Companies Act’1956. With regard to foreign investment, 100% foreign direct investment (FDI) is permitted, subject to fulfillment of other rules and conditions of the Government on FDI. However, The details of the Indian & Foreign promoters with their respective equity holdings in the LICENSEE Company as disclosed on the date of signing of the LICENSE AGREEMENT, are as follows: Sl. No. Name of Promoter. Indian/ Foreign Percent of Equity held
Ownership of the LICENSEE Company. 1.7(a) Foreign Direct Investment (FDI): The Licensee must be an Indian company, registered under the Indian Companies Act’1956. The Licensee shall ensure that the total foreign equity in the LICENSEE Company does not, at any time during the entire LICENSE PERIOD, exceed 74% of the total paid up equity subject to the following FDI norms:
