9911796707
TMI BlogPurchase/Sale of Shares / convertible debentures of an Indian Company by Registered Foreign Portfolio Investor (RFPI) under Foreign Portfolio Investment (FPI) SchemeX X X X Extracts X X X X X X X X Extracts X X X X ..... of 4 [shares or convertible debentures or warrants ] A Registered Foreign Portfolio Investor (RFPI) registered in accordance with Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2014, as amended from time to time, may purchase 5 [shares or convertible debentures or warrants ] of an Indian company under FPI Scheme. 2. Maintenance of account by a RFPI for routing transactions of purchase and sale of 6 [shares or convertible debentures or warrants ] (i) A RFPI may open a Foreign Currency Account and/or a Special Non-Resident Rupee Account with a designated branch of an Authorized Dealer for routing the receipt and payment for transaction relating to purchase and sale of 7 [shares or convertible debentures or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... regate limit. Provided that the aggregate limit of 24% referred to in this paragraph may be increased up to the sectoral cap/statutory ceiling, as applicable, by the Indian company concerned by passing a resolution by its Board of Directors followed by passing of a special resolution to that effect by its General Body. Explanation: (1) For arriving at the ceiling on holdings of RFPI, 11 [shares or convertible debentures or warrants] acquired both through primary as well as secondary market will be included. However, the ceiling will not include investment made by RFPI through off-shore Funds, Global Depository Receipts and Euro-Convertible Bonds. (2) For computation of 24% or enhanced limit as the case may be, holding of RFPI and deemed RFP ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... short selling as well as lending and borrowing of securities subject to such conditions as may be stipulated by the Reserve Bank of India and the SEBI from time to time. 3. Remittance of sale proceeds of 13 [shares or convertible debentures or warrants ] The designated branch of an authorised dealer may allow remittance of net sale proceeds (after payment of taxes) or credit the net amount of sale proceeds of 14 [shares or convertible debentures or warrants] to the foreign currency account or a Special Non-resident Rupee Account of the registered Foreign Portfolio Investor concerned. 4. The existing class of investors namely, Foreign Institutional Investor (FII) and Qualified Foreign Investor (QFI) registered with SEBI shall be eligible to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es 10. Substituted vide Notification No. FEMA. 308/2014-RB, dated June 30, 2014 , before it was read as, shares and convertible debentures 11. Substituted vide Notification No. FEMA. 308/2014-RB, dated June 30, 2014 , before it was read as, shares and convertible debentures 12. Substituted vide Notification No. FEMA. 308/2014-RB, dated June 30, 2014 , before it was read as, shares and convertible debentures 13. Substituted vide Notification No. FEMA. 308/2014-RB, dated June 30, 2014 , before it was read as, shares and convertible debentures 14. Substituted vide Notification No. FEMA. 308/2014-RB, dated June 30, 2014 , before it was read as, shares and convertible debentures - - statute, statutory provisions legislation, law, enactment, Ac ..... X X X X Extracts X X X X X X X X Extracts X X X X
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