Trusts’/ Societies’ overseas ambitions…
Continuing with its avowed liberalisation objectives, to steer the economy forward, the RBI has come up with yet another enabling provision which permits overseas investments by Registered Trusts and Societies. Unlike before, any Trust/Society, engaged in manufacturing/educational sector) can now investment in ‘the same sector(s)’ whether by entering into a JV or through a ‘Wholly Owned Subsidiary’ outside India, by taking prior approval from RBI. The eligibility criteria have been prescribed and applications in the prescribed form/manner are to be submitted to the RBI by the intending trusts/societies.
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