Jet-Etihad deal: DIPP likely to expand definition of 'control'
Business Standard
After the issue of effective control cropped up in the Jet-Etihad deal last week, the Department of Industrial Policy and Promotion (DIPP) is likely to move a Cabinet note to address it by clubbing the definition of 'effective control' and 'control'. At present, according to the foreign direct investment policy, 'control' rests with the one who has the power to appoint a majority of directors in a company.