Core Investment Companies (CICs) are entities which invest exclusively in group companies, mainly for holding purpose. The group companies may be operating in different sectors of the economy both financial and non-financial. In view of their unique nature of business (investment only for holding purpose) it has been decided to issue a separate set of Directions to CICs with regard to their overseas investments.

The Draft Directions in this regard are enclosed. Comments on the draft directions may please be emailed by May 31, 2012.

Ajit Prasad
Assistant General Manager

Press Release : 2011-2012/1794