Statements (a), (b) and (c) are the recommendations of the Arvind Mayaram Committee on Rationalising the FDI/FPI definition (June 2014). Further, it also recommended that Foreign Portfolio Investors (FPIs) include Foreign Institutional Investors (FIIs) and Qualified Foreign Investors (QFIs). Foreign investment in an unlisted company, irrespective of the threshold limit, may be treated as FDI. Statement (d) is not true regarding the recommendations of the Committee.