Investments in India are regulated under the broader prescriptions of Foreign Exchange Management Act, 1999 which is considered as the parent legislation. Besides dealing with all kinds of transactions in foreign exchange, FEMA also prescribes restrictions & prohibitions on current account transactions. The Act prescribes transactions for which withdrawal of foreign exchange is prohibited, transaction which require prior approval of the government and also transactions that require approval of RBI before commencement. Additionally, payment of commission on exports made towards equity investments in joint ventures or wholly owned subsidiaries of Indian companies abroad is also prohibited. There are many other outward remittances of money that requires prior approval of Reserve Bank of India. There is also a general prohibition in FEMA that no person resident in India shall acquire, hold, own, possess or transfer any foreign exchange, foreign security or any immovable property situated outside India. Apart from the recognized authorized persons under the provisions of FEMA, 1999, it has been stated that no person shall deal in foreign exchange in any manner whatsoever. Under TISPROI Regulations, it has been clearly outlined that 'save as otherwise provided in the Act, or rules or regulations made thereunder, no person resident outside India shall make investment in India; and that 'save as otherwise provided in the Act, rules or regulations made thereunder, an Indian entity or an investment vehicle, or a venture capital fund, or a firm or an association of persons or a proprietary concern shall not receive any investment in India from a person resident outside India or record such investment in its books'. It has also been provided that 'unless otherwise specifically stated in the Act or rules or regulations framed thereunder, investment by a person resident outside India is prohibited in certain prescribed activities'. There is also a prohibition on investments beyond investment limits, in violation of linked conditions and in excess of sectoral/statutory caps prescribed under the Regulations. Although there are many operative restrictions and prohibitions in the Regulations framed under FEMA, special powers have been vested with Reserve Bank of India in all restrictions on foreign investments prescribed therein. There is also substantial discretion vested with other sector- specific regulators/ government departments and enforcement agencies. It could be therefore be concluded that India's legal framework is based on comprehensive thought, deep deliberation, consensus on modalities and concentration of diversified set of laws to meet the pertinent objective.