'Overseas Direct Investment” or “ODI” means investment by way of acquisition of unlisted equity capital of a foreign entity, or subscription as a part of the memorandum of association of a foreign entity (irrespective of % stake), or investment in listed foreign entity where the stake is 10% or more of the paid-up equity capital, or Investment with control* where the investment is less than 10% of the paid-up equity capital of a listed foreign entity'

*Control : The right to appoint majority of the directors or to control management or policy decisions exercisable by a person or persons acting individually or in concert, directly or indirectly, including by virtue of their shareholding or management rights or shareholders’ agreements or voting agreements that entitle them to 10% per cent. or more of voting rights or in any other manner in the