1. You have to form another PVT ltd. Company in India with at least 2 Indian Directors. 2. The said newly Indian incorporated company can acquire the shares of the existing Indian companies ans stake control of the same. 3. once at least 51% shares of the existing company is acquired, you can control the same and it would be treated as your own company as far as management and decisions are concerned. While doing so this Circular of RBI will have to be kept in mind. Master Circular on Foreign Investment in India Foreign investment in India is governed by sub-section (3) of Section 6 of the Foreign Exchange Management Act, 1999 read with Notification No. FEMA 20/2000-RB dated May 3, 2000, as amended from time to time. The regulatory framework and instructions issued by the Reserve Bank have been compiled in this Master Circular. The list of underlying circulars/notifications is furnished in Appendix. In addition to the above, this Master Circular also covers the area of ‘Investment in capital of Limited Liability Partnership, partnership firms or proprietary concern’ which is regulated in terms of Section 2(h) of Section 47 of Foreign Exchange Management Act, 1999, read with Notification No. FEMA 24/2000-RB dated May 3, 2000. 2. This Master Circular is being updated from time to time as and when the fresh instructions are issued. The date up to which the Master Circular has been updated is suitably indicated. 3. This Master Circular may be referred to for general guidance. The Authorised Persons and the Authorised Dealer Category – I banks may refer to respective circulars/ notifications for detailed information, if so needed.