Regulation 14 - Appointment of custodian - Securities and Exchange Board of India (Foreign Venture Capital Investors) Regulations 2000

1 [ Appointment of custodian. 14. (1) A foreign venture capital investor or a global custodian acting on behalf of the foreign venture capital investor shall enter into an agreement with a designated depository participant and a custodian, before making any investment under these regulations. (2) In addition to the obligation of a custodian under any other regulations, the custodian shall be responsible for ( a ) monitoring of investment of foreign venture capital investors in India; ( b ) furnishing of periodic reports to the Board; ( c ) furnishing such information as may be called for by the Board; ( d ) ensuring that a foreign venture capital investor does not make any new investment or sell its existing investment until renewal fee is paid in terms of sub-regulation (4) of Regulation 9; ( e ) any other condition as may be specified by the Board from time to time. ] ************* NOTES:- 1. Substituted vide Notification No. SEBI/LAD-NRO/GN/2024/203 dated 04-09-2024 w.e.f. 01-01-2025 before it was read as, General Obligations and Responsibilities. 14.(1) Foreign Venture Capital Investor or a global custodian acting on behalf of the foreign venture capital investor shall enter into an agreement with the domestic custodian to act as a custodian of securities for Foreign Venture Capital Investor. (2) Foreign Venture Capital Investor shall ensure that domestic custodian takes steps for,- (a) monitoring of investment of Foreign Venture Capital Investors in India (b) furnishing of periodic reports to the Board (c) furnishing such information as may be called for by the Board.