Transfer or Issue of Security by a Person Resident outside India

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..... n the Official Gazette of Government of India - Extraordinary - Part-II, Section 3, Sub-Section (i) dated 14.03.2001 - G.S.R. No. 182(E) In exercise of the powers conferred by clause (b) of sub-section (3) of Section 6 and Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999) and in partial modification of its Notification No.FEMA 20/2000-RB dated 3 rd May 2000, the Reserve .....

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..... after Sub-regulation (3), the following proviso shall be added, namely: 'Provided that the NRI/OCB shall not purchase shares or convertible debentures of an Indian company which is engaged in the print media sector.' (iii) after Sub-regulation (5), the following proviso shall be added, namely: 'Provided that the Foreign Venture Capital Investor shall not purchase shares or convertible deben .....

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