Clarifications regarding investment by Foreign Institutional Investors

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..... onal Investors and Custodians of Securities Dear Sir/Madam, Sub : Clarifications regarding investment by Foreign Institutional Investors Some FIIs/ sub accounts which are not desirous of renewing registration but are holding certain unsaleable securities / securities of nominal value have approached SEBI seeking permission to hold such securities after the expiry of re .....

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..... ormation regarding compliance officer required to be submitted to SEBI is explained in this circular. A. Permitting disinvestment after expiry of registration The procedure for seeking permission for disinvestment by FIIs after expiry of registration is given below: 1. At the time of expiry of registration, the FII desiring permission for disinvestment for itself or it .....

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..... . No purchase transactions shall be undertaken after the expiry of registration. However, credit of corporate benefits and application for rights issue in respect of existing securities would be permitted. Ina case any fresh purchase transactions are undertaken, the FII would be bound to seek fresh registration besides being liable for penal action for making investments without holding valid reg .....

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..... June 30, 2001. The relative addresses/ fax numbers are mentioned on the top of this circular. A copy of this circular is also available at the web page Foreign intuitional Investors on our web site www.sebi.gov.in. The custodians are requested to bring the contents of this circular to the notice of their FII clients. Yours faithfully P. Gupta Divisio .....

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..... sub account/ client: ____________________ (Name of the sub account) ________ (Signature) Authorized Signatory of FII: _____________________ (Name of the sub account) _________ (Signature) * wherev .....

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