‘Flipping’ refers to process of transferring entire ownership of Indian entity to entity incorporated abroad along with transfer of key assets such as intellectual property. Resultant structure is Indian company becoming wholly owned subsidiary of foreign company.
The Foreign Exchange Management (Overseas Investment, or OI) Rules, notified by the Reserve Bank of India (RBI) on 22 August 2022, supersedes the erstwhile provisions governing acquisition of immovable property overseas by a resident individual
Government of India, Securities and Exchange Board of India SEBI, and Reserve Bank of India RBI have introduced flagship changes to the legal regime with respect to overseas investments by Indian residents including alternative investment funds AIF registered under the SEB.