India – Reporting of Existing Foreign Direct Investment (“FDI”) to the Reserve Bank of India (RBI)
With the objective of integrating the extant reporting structures of various types of foreign investment in India, the Reserve Bank will introduce a Single Master Form (SMF). The SMF would provide an online facility for reporting total foreign investment in an Indian entity, and also investment by persons resident outside India in an Investment Vehicle. Prior to the implementation of the SMF, Reserve Bank would provide an interface to the Indian entities, to input the data on total foreign investment in a specified format. The interface will be available on RBI website www.rbi.org.in from June 28, 2018 to July 12, 2018.
Indian entities not complying with this pre-requisite will not be able to receive foreign investment (including indirect foreign investment) and will be non-compliant with Foreign Exchange Management Act, 1999 and regulations made thereunder. The final form, when hosted, will be available in the Master Direction-Reporting under FEMA, 1999.