TMI BlogPermission for purchase of shares by certain persons resident outside IndiaX X X X Extracts X X X X X X X X Extracts X X X X ..... 9 [(ii) Notwithstanding anything contained in sub-regulation (i) above, a person who is a citizen of Bangladesh or an entity incorporated in Bangladesh may, with the prior approval of the Foreign Investment Promotion Board of the Government of India, purchase 29 [shares or convertible debentures or warrants] of an Indian company under Foreign Direct Investment Scheme, subject to the terms and conditions specified in Schedule 1.] 14 [ (iii) Further, notwithstanding anything contained in clause (i) of the sub-regulation (1) above, a person who is a citizen of Pakistan or an entity incorporated in Pakistan may, with the prior approval of the Foreign Investment Promotion Board of the Government of India, purchase 30 [shares or convertible debentures or warrants] of an Indian company under Foreign Direct Investment Scheme, subject to the terms and conditions specified in Schedule 1. Provided further that notwithstanding anything contained in Schedule 1, the Indian company, receiving such foreign direct investment, is not engaged or shall not engage in sectors/activities pertaining to defence, space and atomic energy and sectors/activities prohibited for foreign inve ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... RBI/SEBI subject to limits and margin requirement prescribed by RBI/SEBI as well as the stipulations regarding collateral securities as directed by the Reserve Bank from time to time.] 23 [(6A) a RFPI may trade in all exchange traded derivative contracts approved by RBI/SEBI subject to the limits and margin requirement prescribed by RBI/SEBI as well as the stipulations regarding collateral securities as directed by the Reserve Bank from time to time] 6 [(7) A Non-Resident Indian (NRI) may invest in exchange traded derivative contracts approved by SEBI from time to time out of INR funds held in India on non-repatriable basis subject to the limits prescribed by SEBI. Such investments will not be eligible for repatriation benefits.] 18 [(7A) A QFI may purchase equity shares of an Indian company subject to the terms and conditions specified in Schedule 8.] 24 [However, a QFI may continue to buy, sell or otherwise deal in securities for a period of one year from the date of commencement of Securities Exchange Board of India (SEBI) (Foreign Portfolio Investors) Regulations, 2014, or until it obtains a certificate of registration as foreign portfolio investor, wh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... te : 1. Sub-regulation (5) has been added vide Notification No. 032/2000 dated 26/12/2000 2. Proviso has been added vide Notification No. 035/2001 date 16/2/2001 , as Provided that the FII shall not purchase shares or convertible debentures of an Indian company which is engaged in the print media sector. Now, deleted by Notification No. 138/2005 dated 22/7/2005 3. Proviso has been added vide Notification No. 035/2001 date 16/2/2001 as Provided that the NRI/OCB shall not purchase shares or convertible debentures of an Indian company which is engaged in the print media sector. Now, deleted by Notification No. 138/2005 dated 22/7/2005 4. Proviso has been added vide Notification No. 035/2001 date 16/2/2001 , as Provided that the Foreign Venture Capital Investor shall not purchase shares or convertible debentures of an Indian company which is engaged in the print media sector. Now, deleted by Notification No. 138/2005 dated 22/7/2005 5. Sub-regulation (3), has been substituted vide Notification No. 046/2001 dated 29/11/2001 6. Has been inserted vide Notification No. 085/2003 dated 17/1/2003 ] 7. For the words 'or an entity outside India, w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... March 13, 2014 24. Inserted vide Notification No. FEMA. 297/2014-RB dated March 13, 2014 25. Inserted vide Notification No. FEMA. 297/2014-RB dated March 13, 2014 26. Inserted vide Notification No. FEMA. 297/2014-RB dated March 13, 2014 27. Inserted vide Notification No. FEMA. 298/2014-RB dated March 13, 2014 28. Substituted vide Notification No. FEMA. 308/2014-RB, dated June 30, 2014 , before it was read as, 9 [(i)A person resident outside India (other than a citizen of Bangladesh or Pakistan) 7 [or an entity incorporated outside India,] (other than an entity in Bangladesh or Pakistan) , may purchase shares or convertible debentures of an Indian company under Foreign Direct Investment Scheme, subject to the terms and conditions specified in Schedule 1.] 16 [Further, shares or convertible debentures containing an optionality clause but without any option/right to exit at an assured price shall be reckoned as eligible instruments to be issued to a person resident outside India by an Indian company subject to the terms and conditions as specified in Schedule I .] 29. Substituted vide Notification No. FEMA. 308/2014-RB, dated June ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
