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ARTICLE · 11 DECEMBER 2012

Corporate Law Alert - October 5, 2012

JSA Advocates & Solicitors
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The Ministry of Commerce and Industry, Department of Industrial Policy and Promotion (DIPP) vide Press Note No. 6 (2012 Series) dated September 20, 2012 has changed the position with respect to foreign airlines investing in Indian companies, operating scheduled and nonscheduled air transport services.

IndiaGovernment, Public Sector
Amit Kapur
Amit Kapur
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Review of the Policy on Foreign Direct Investment in the Civil Aviation Sector

The Ministry of Commerce and Industry, Department of Industrial Policy and Promotion (DIPP) vide Press Note No. 6 (2012 Series) dated September 20, 2012 has changed the position with respect to foreign airlines investing in Indian companies, operating scheduled and nonscheduled air transport services.

Para 6.2.9.3 of Circular 1 of 2012- Consolidated FDI Policy' (FDI Policy), relating to air transport services has been reviewed and subsequently amended. The Government of India has decided to permit foreign airlines to invest, in the capital of Indian companies, operating scheduled and nonscheduled air transport services, up to the limit of 49% of their paid-up capital.

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