Discuss in brief the eligibility for referring any entity as 'Indian Entity' under the new regime as per the provisions of Foreign Exchange Management Act, 1999.

Eligibility for 'Indian Entity' under FEMA Following are the Indian entities as per the Foreign Exchange Management Act, 1999 and Rules and Regulations made thereunder: a Company defined under the Companies Act, 2013 or a Body Corporate incorporated by any law for the time being in force or a Limited Liability Partnership formed under the Limited Liability Partnership Act, 2008 or a Partnership Firm registered under the Indian Partnership Act, 1932.