Issue of shares to NRIs/OCBs on rights basis

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..... Attention of authorised dealers is invited to sub-regulation (2) of Regulation 6 of Notification No.FEMA.20/2000-RB dated 3 rd May 2000 in terms of which Indian companies are permitted to offer to a person resident outside India, equity or preference shares or convertible debentures on right basis subject to conditions stipulated therein. 2. With a view to extending to non-resident shareholder .....

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..... Regulation No.6 of the Notification No.FEMA.20/2000-RB dated 3 rd May 2000 as amended from time to time shall remain unchanged. 4. Authorised dealers may bring the contents of this circular to the notice of their constituents concerned. 5. The directions contained in this circular have been issued under Section 10(4) and Section 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) .....

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