Purchase of shares on the recognised stock exchanges in accordance with SEBI (Substantial Acquisition of Shares and Takeover) Regulations

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..... Acquisition of Shares and Takeover) Regulations Attention of Authorised Dealer Category - I (AD Category-I) banks is invited to Schedule 1 to Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 notified by the Reserve Bank vide Notification No. FEMA 20/2000-RB dated 3rd May 2000, as amended from time to time. 2. At present, Foreign In .....

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..... to hold the control in accordance with SEBI (Substantial Acquisition of Shares and Takeover) Regulations; ii. The amount of consideration for transfer of shares to non-resident consequent to purchase on the stock exchange may be paid as below: * by way of inward remittance through normal banking channels, or * by way of debit to the NRE/FCNR account of the person concerned maintained with an .....

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..... I policy and FEMA regulations in respect of sectoral cap, entry route, reporting requirement, documentation, etc; 4. AD Category - I banks may bring the contents of the circular to the notice of their customers/constituents concerned. 5. Reserve Bank of India has since amended the relevant Regulations vide Notification No.FEMA.279/2013-RB dated July 10, 2013 notified vide G.S.R.No.591 (E) dated .....

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