India may set 10% beneficial ownership cap for FDI flowing from 7 countries

India is likely to set a 10 per cent ‘beneficial ownership’ cap for foreign direct investment (FDI) flowing from seven bordering countries including China. Beyond this, a government nod would be required for any investing entity or individual from these nations. The 10 per cent threshold is in line with the rules for significant beneficial owners (SBOs) under the Companies Act, 2013. According to these norms, companies must take necessary steps to identify such owners if they don’t reveal themselves. SBOs, under this definition, are mandatorily required to make elaborat.....

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