Regulatory Reforms in Venture Capital . by. SAMEER RASTOGI. 26 th April 2007. INDIA JURIS International Law Firm www.indiajuris.com. EVOLUTION OF VC REGULATORY CLIMATE IN INDIA.
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26th April 2007
INDIA JURISInternational Law Firmwww.indiajuris.com
-Investible fund limit decreased to 66.67% from 75% in unlisted companies
-Removal of Real Estate from negative list of Schedule III
Permitted to invest in NBFC engaged in equipment leasing or Hire Purchase.
Permitted to invest in companies engaged in gold financing for jewellery.
FVCI allowed to invest 100% in one VCU, as compared to 25% earlier.
Change proposed in Budget 2007- 08
Pass-through status to be granted to VCF only in respect of investments in VCU in biotechnology; information technology relating to hardware and software development; nanotechnology; seed research and development; research and development of new chemical entities in the pharmaceutical sector; dairy industry; poultry industry; and production of bio-fuels, and hotel-cum-convention centers of a certain description and size.
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