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and WOS abroad does not exceed 400 percent of its net worth as on the date of its last audited balance sheet. If an Indian company proposes to directly invest more than 400 percent of its net worth in an offshore JV or WOS, the RBI may consider such proposal under the approval route. However, any financial commitment exceeding USD 1 billion (or its equivalent) in a financial year by an Indian party would require prior approval of the RBI even when 5. Legal and Regulatory Considerations68. , last accessed on June 24, 201469. RBI/2011-12/296 A. P. (DIR Series) Circular No.56 dated December 09, 201170. A greenfield investment is a type of venture where finances are employed to create a new physical facility for a business in a location where no existing facilities are currently present, whereas a brownfield investment implies investment into an existing production facility, typically for the purpose of a new product release.