The Ministry of Corporate Affairs vide notification dated 5th May, 2022 has issued the Companies (Prospectus and Allotment of Securities) Amendment Rules, 2022. The amendment provides that no offer or invitation of offer for purchase of any securities shall be made to a body corporate incorporated in, or a national of, a country which shares a land border with India, unless such body corporate or the national, as the case may be, have obtained Government approval under the Foreign Exchange Management (Non-debt Instruments) Rules, 2019 and attached the same
with the private placement offer cum application letter.
