Reserve Bank of India vide RBI/2012-13/502 A.P. (DIR Series) Circular No. 104 dated 17th May, 2013 reviewed the policy issued vide A.P. (DIR Series) Circular No. 74 dated 20th June, 2011 read with A.P. (DIR Series) Circular No. 55 dated 9th December, 2011 wherein it was allowed to issue equity shares/ preference shares under the Government route by conversion of import of capital goods, etc. subject to terms and conditions, stated therein. On a review it was decided to amend condition at Para 3(II)(c) of A.P. (DIR Series) Circular No. 74 dated 20th June, 2011. Earlier, the condition Para 3(II) (c) stated that “Payments should be made directly by the foreign investor to the company. Payments made through third parties citing the absence of a bank account or similar such reasons will not be eligible for issuance of shares towards FDI. The revised condition is as follows, “Payments should be made by the foreign investor to the company directly or through the bank account opened by the foreign investor as provided under FEMA Regulations.