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Regulation 2 - Regulation - Regulations - Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2017 - Regulation 2 - 2. In these Regulations, unless the context requires otherwise,- (i) Act means the Foreign Exchange Management Act, 1999 (42 of 1999); (ii) Asset Reconstruction Company (ARC) means a company registered with the Reserve Bank under section 3 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security .....

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quity shares that have been partly paid. The expression Debentures means fully, compulsorily and mandatorily convertible debentures. Preference shares means fully, compulsorily and mandatorily convertible preference shares. Share Warrants are those issued by an Indian Company in accordance with the Regulations issued by the Securities and Exchange Board of India. Capital instruments can contain an optionality clause subject to a minimum lock-in period of one year or as prescribed for the specifi .....

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of issuance of share warrants. (d) Capital instruments shall include non-convertible/ optionally convertible/ partially convertible preference shares issued as on and up to April 30, 2007 and optionally convertible/ partially convertible debentures issued up to June 7, 2007 till their original maturity. Non-convertible/ optionally convertible/ partially convertible preference shares issued after April 30, 2007 shall be treated as debt and shall conform to External Commercial Borrowings guidelin .....

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terms and conditions agreed to and indicated in the instrument; (vii) Domestic Custodian means a custodian of securities, an Indian Depository, a Depository Participant, or a bank and having permission from Securities and Exchange Board of India to provide services as custodian; (viii) Domestic Depository means a custodian of securities registered with the Securities and Exchange Board of India and authorised by the issuing entity to issue Indian Depository Receipts; (ix) Depository Receipt mean .....

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rities and Exchange Board of India; (xi) Escrow account means an Escrow account maintained in accordance with Foreign Exchange Management (Deposit) Regulations, 2016; (xii) FDI linked performance conditions means the sector specific conditions stipulated in regulation 16 of these Regulations for companies receiving foreign investment; (xiii) Foreign Venture Capital Investor (FVCI) means an investor incorporated and established outside India and registered with Securities and Exchange Board of In .....

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it) Regulations, 2016; (xvi) Foreign Currency Convertible Bond (FCCB) means a bond issued under the Issue of Foreign Currency Convertible Bonds and Ordinary Shares (Through Depository Receipt Mechanism) Scheme, 1993; (xvii) Foreign Direct Investment (FDI) means investment through capital instruments by a person resident outside India in an unlisted Indian company; or in 10 percent or more of the post issue paid-up equity capital on a fully diluted basis of a listed Indian company; Note: In case .....

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patriable basis in capital instruments of an Indian company or to the capital of an LLP; Explanation: If a declaration is made by persons as per the provisions of the Companies Act, 2013 about a beneficial interest being held by a person resident outside India, then even though the investment may be made by a resident Indian citizen, the same shall be counted as foreign investment. Note: A person resident outside India may hold foreign investment either as Foreign Direct Investment or as Foreign .....

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be applicable to each foreign portfolio investor or an investor group as referred in Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2014 (xx) Foreign Portfolio Investor (FPI) means a person registered in accordance with the provisions of Securities Exchange Board of India (Foreign Portfolio Investors) Regulations, 2014. Explanation: Any Foreign Institutional Investor (FII) or a sub account registered under the Securities Exchange Board of India (Foreign Instit .....

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Promotion Board (FIPB) and/ or any of the ministry/ department of the Government of India as the case may be; (xxii) Group company means two or more enterprises which, directly or indirectly, are in a position to (a) exercise 26 percent, or more of voting rights in other enterprise; or (b) appoint more than 50 percent, of members of board of directors in the other enterprise; (xxiii) Indian company means a company incorporated in India and registered under the Companies Act, 2013; (xxiv) Indian .....

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be, acquire, hold or transfer any security or unit issued by a person resident in India; Explanation: (a) This will include to acquire, hold or transfer depository receipts issued outside India, the underlying of which is a security issued by a person resident in India. (b) For the purpose of LLP, investment shall mean capital contribution or acquisition/ transfer of profit shares. (xxviii) Investment on repatriation basis means an investment, the sale/ maturity proceeds of which are, net of tax .....

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nvIts) governed by the Securities and Exchange Board of India (InvIts) Regulations, 2014 and Alternative Investment Funds (AIFs) governed by the Securities and Exchange Board of India (AIFs) Regulations, 2012; (xxx) Limited Liability Partnership (LLP) means a partnership formed and registered under the Limited Liability Partnership Act, 2008; (xxxi) Listed Indian Company means an Indian company which has any of its capital instruments listed on a recognized stock exchange in India and the expres .....

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ccount means a Non-Resident External account maintained in accordance with the Foreign Exchange Management (Deposit) Regulations, 2016; (xxxiv) NRO account means a Non-Resident Ordinary account maintained in accordance with the Foreign Exchange Management (Deposit) Regulations, 2016; (xxxv) Non-Resident Indian (NRI) means an individual resident outside India who is citizen of India; (xxxvi) Overseas Citizen of India (OCI) means an individual resident outside India who is registered as an Oversea .....

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e maximum investment including both foreign investment on a repatriation basis by persons resident outside India in capital instruments of a company or the capital of an LLP, as the case may be, and indirect foreign investment, unless provided otherwise. This shall be the composite limit for the Indian investee entity; Explanation: (a) FCCBs and DRs having underlying of instruments being in the nature of debt shall not be included in the sectoral cap. (b) Any equity holding by a person resident .....

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