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Investment by a person resident outside India in an Investment Vehicle

Regulation SCHEDULE 11 - Regulation - FEMA - Regulation SCHEDULE 11 - 2[SCHEDULE 11 [See Regulation 5(10)] 1. A person resident outside India including an RFPI and an NRI may invest in units of Investment Vehicles subject to the conditions laid down in this Schedule. 2. The payment for the units of an Investment Vehicle acquired by a person resident or registered / incorporated outside India shall be made by an inward remittance through the normal banking channel including by debit to an NRE or .....

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or sponsors or managers or investment managers organized in a form other than companies or LLPs, SEBI shall determine whether the sponsor or manager or investment manager is foreign owned and controlled. Explanation 1: Ownership and control is clearly determined as per the extant FDI policy. AIF is a pooled investment vehicle. Control of the AIF should be in the hands of sponsors and managers/investment managers , with the general exclusion to others. In case the sponsors and managers/investment .....

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ll have to conform to the sectoral caps and conditions / restrictions, if any, as applicable to the company in which the downstream investment is made as per the FDI Policy or Schedule 1 of the principal Regulations. 6. Downstream investment in an LLP by an Investment Vehicle that is reckoned as foreign investment has to conform to the provisions of Schedule 9 of the principal Regulations as well as the extant FDI policy for foreign investment in LLPs. 7. An Alternative Investment Fund Category .....

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Dated 15-2-2016 "1[SCHEDULE 11 [See Regulation 5(10)] 1. A person resident outside India including an RFPI and an NRI may invest in units of Investment Vehicles subject to the conditions laid down in this Schedule. 2. The payment for the units of an Investment Vehicle acquired by a person resident or registered / incorporated outside India shall be made by an inward remittance through the normal banking channel including by debit to an NRE or an FCNR account. 3. A person resident outside I .....

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rganized in a form other than companies, SEBI shall determine whether the sponsor or manager or investment manager is foreign owned and controlled. Explanation 1: Ownership and control is clearly determined as per the extant FDI policy. AIF is a pooled investment vehicle. Control of the AIF should be in the hands of sponsors and mangers/investment managers , with the general exclusion of others. In case the sponsors and managers/investment managers of the AIF are individuals, for the treatment o .....

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