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Clarifications regarding investment by Foreign Institutional Investors - SEBI - FITTC/CUST/12/2001

Extract

..... old such securities after the expiry of registration. This may happen due to reasons beyond control of the FIIs/Sub accounts such as securities being illiquid or being held up as an objection case/ court order. The Securities and Exchange Board of India (Foreign Institutional Investors ) Regulations, 1995 have, therefore, been amended to permit such FIIs/Sub accounts to hold residual securities for subsequent disposal, after the expiry of FIIs/Sub accounts registration subject to receipt of spec .....

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Clarifications regarding investment by Foreign Institutional Investors - SEBI

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..... de within one month from the date of this circular) 2. SEBI would, if appropriate, grant such permission for a period of 6 months under intimation to the Reserve Bank of India (RBI) requesting the latter to grant necessary approval under Foreign Change Management Act at it s end. The required sale trades can be carried out after the receipt of RBI’s approval. 3. The permission would generally permit only sale of the securities held by the FII/SA as on date of expiry of registration. No pur .....

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Clarifications regarding investment by Foreign Institutional Investors - SEBI

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..... of the SEBI (FII) Regulations, 1995 and the other relevant provisions. This information may be submitted by letter, fax or email so as to reach SEBI by June 30, 2001. The relative addresses/ fax numbers are mentioned on the top of this circular. A copy of this circular is also available at the web page ‘Foreign intuitional Investors’ on our web site www.sebi.gov.in. The custodians are requested to bring the contents of this circular to the notice of their FII clients. Yours faithful .....

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Clarifications regarding investment by Foreign Institutional Investors - SEBI

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