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TMI BlogFramework for monitoring of foreign holding in Depository ReceiptsX X X X Extracts X X X X X X X X Extracts X X X X ..... he foreign holding, including that held by way of DRs, as per the limits prescribed under the Foreign Exchange Management Act, 1999 and applicable SEBI Regulations, and disseminate the information regarding outstanding DRs and available limit for conversion. For this purpose, the Circular provided that Indian Depositories shall have necessary arrangement with the Domestic Custodian and / or Foreign Depository. 3. Based on discussion with market participants, the broad operational guidelines for the above purpose are placed at Annexure. Indian Depositories, in consultation with each other and market participants, may prescribe the formats and other details, as may be necessary to operationalize the above. 4. Stock Exchanges and Depositor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d. 3.3. Ensure that the underlying permissible securities, pertaining to a listed company, against which DRs are issued in the Permissible Jurisdiction, are held in a demat account, under a separate Type & Sub-Type as prescribed by the Indian Depositories for the purpose of issue of DRs. 3.4. Provide certificate / declaration / information, to the Designated Depository in the prescribed format upon termination/cancellation of DR program. For this, the issuer or Foreign Depository shall be required to report such termination / cancellation to the Domestic Custodian. 4. Procedure for the purpose of monitoring of limits 4.1. The Designated Depository shall forward the list of such companies (ISINs) for which it will be monitoring the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Re-issuance mechanism 5.1. For the purpose of re-issuance of permissible securities, a Foreign Investor shall request SEBI registered Broker with requisite quantity of securities (based on available headroom) required for re-issuance of depository receipts which shall be forwarded to the Domestic Custodian. 5.2. Based on last available headroom disseminated by Designated Depository, the Domestic Custodian shall grant approval (T- day where T is date of approval granted by Domestic Custodian) to such request received from SEBI registered Broker for re-issuance purpose which shall be valid for a period of 3 trading days (T+3) from the date of approval of request granted by Domestic Custodian. 5.3. The Domestic Custodian shall report su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t the investment holding in the underlying Indian security as held by ODI subscriber and / or as DR holder, including securities held in the Depository Receipt account upon conversion ('DR conversion' account), to its Domestic Custodian on a monthly basis (by the 10th of every month) in the format enclosed at Annexure B. Similarly, the FPIs who do not belong to the same investor group shall report such investment holding details in the underlying Indian security as ODI subscriber and / or as DR holder, including securities held in the 'DR conversion' account, to its Custodian in the aforesaid format on a monthly basis (by 10th of the month). 6.2. The DDP shall report FPI grouping information as reported by Nodal FPI to such Indian Deposit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... scribed under SEBI Circular dated November 05, 2019 on 'Operational Guidelines for FPIs & DDPs under SEBI (Foreign Portfolio Investors), Regulations 2019 and for Eligible Foreign Investors. Annexure - A Sr. No. Name of reporting FPI (Nodal Entity) Registration No. of Reporting FPI (Nodal Entity) mentioned in column B Name of FPI / ODI Subscriber with whom the applicant shares, ownership of more than 50% common control Type of Client viz. FPI or ODI subscriber or DR holder Registration No. of FPI mentioned at Column D LEI No. of entity mentioned at Column D (for ODI subscriber or DR holder) If ODI subscriber, please mention name of dealing FPI Jurisdiction / Country of entity mentioned at Column D A B C D E F ..... X X X X Extracts X X X X X X X X Extracts X X X X
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