On 26th September, 2012, Reserve Bank of India vide RBI/2012-13/223 A.P. (DIR Series) Circular No. 36 has decided that in cases, where non-residents (including NRIs) make investment in an Indian company in compliance with the provisions of the Companies Act, 1956, by way of subscription to Memorandum of Association, such investments may be made at face value subject to their eligibility to invest under the FDI scheme.