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Dec 22, 2012
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Ceiling for FDI in ARCs raised to 74% from 49%
The government has increased the ceiling for foreign direct investment ( FDI) in asset reconstruction companies (ARCs) to 74 per cent from 49 per cent. This is, however, subject to the condition that no sponsor should hold more than 50 per cent of the shareholding in an ARC, either by way of FDI or by routing through a foreign institutional investor (FII).Foreign investment in ARCs will have to comply with the FDI norms in terms of entry route conditionality and sectoral caps, the finance ministry said in a release
Source -
http://www.business-standard.com
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