Declaration and Undertaking regarding PCC, MCV or equivalent structure by FIIs

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..... circular CIR/IMD/FIIC/1/2010 dated April 15, 2010 had mandated all Foreign Institutional Investors/ Sub Accounts to submit Declaration and Undertaking with regard to their opaque structure such as Protected Cell Companies (PCC), Multi Class Share Vehicles (MCV) or equivalent structure. In light of representations received it is clarified as follows: If any applicant is required by its regulator .....

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