As a Secretarial Auditor, what are the checks to be observed in case of direct investment outside India under approval route ?

The following checks need to be observed for direct investment outside India under approval route : Check whether prior approval of Reserve Bank of India is obtained in all cases which are not covered under the automatic route. Check whether specific approval of RBI is obtained for creating charge on immovable / moveable property and other financial assets (except pledge of shares of overseas JV / WOS) of the Indian party / group companies in favour of a non-resident entity within the overall limit fixed (presently 100%) for the financial commitment subject to submission of a 'No Objection' by the Indian party and their group companies from their Indian lenders. Whether approval of RBI is obtained for issuance of corporate guarantee on behalf of second generation or subsequent level step down operating subsidiaries. Check whether the investment by Indian Mutual funds registered with SEBI is as per the norms. Check whether FIPB approval is obtained if the investment is by share swaps.