TMI BlogGuidelines for Overseas Investments by Venture Capital FundsX X X X Extracts X X X X X X X X Extracts X X X X ..... 1. SEBI registered Venture Capital Fund (VCFs) are permitted to invest in securities of foreign companies in terms of regulation 12(ba) of the SEBI (Venture Capital Funds) Regulations 1996. Reserve Bank of India (RBI) vide its Circulars dated April 30, 2007 and May 04,2007, issued in this regard, has permitted these VCFs to invest in equity and equity linked instruments only of off-shore ventur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d such investments would be upto 10% of the investible funds of a VCF. iii. The allocation of investment limits would be done on first come- first serve basis, depending on the availability in the overall limit of USD 500 million. iv. It is clarified that in case a VCF who is allocated certain investment limit, wishes to apply for allocation of further investment limit, the fresh applicati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... time to time. 5. This circular is being issued in exercise of the powers conferred under subsection (1) of Section 11 of the Securities and Exchange Board of India Act, 1992 and is without prejudice to compliances/permissions/approvals, if any, required under any other law. Yours faithfully, Satya Ranjan Prasad Annexure Proposal for Overseas Investment by Venture Capital Fun ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t with the investment objective of the scheme. A resolution to the above effect has been passed by the Boards of Trustees/Trustees on --------------------------------. Name: Signature: Place: Date: - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - T ..... X X X X Extracts X X X X X X X X Extracts X X X X
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