Rule 34 - Investment by Permissible Holder - Foreign Exchange Management (Non-debt Instruments) Rules, 2019

1 [CHAPTER X INVESTMENT BY PERMISSIBLE HOLDER IN EQUITY SHARES OF PUBLIC COMPANIES INCORPORATED IN INDIA AND LISTED ON INTERNATIONAL EXCHANGES Investment by permissible holder .- 34. (1) A permissible holder may purchase or sell equity shares of a public Indian company which is listed or to be listed on an International Exchange under Direct Listing of Equity Shares of Companies Incorporated in India on International Exchanges Scheme as specified in Schedule XI. (2) The mode of payment and other attendant conditions for remittance of proceeds of issue shall be as specified by the Reserve Bank. ] ************** NOTES:- 1 . Inserted vide Notification No. S.O. 332(E) dated 24-01-2024 , w.e.f. 24-01-2024.