Investment by a person resident outside India in an Investment Vehicle

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..... f an Investment Vehicle (1) A person resident outside India (other than a citizen of Pakistan or Bangladesh) or an entity incorporated outside India (other than an entity incorporated in Pakistan or Bangladesh) may invest in units of Investment Vehicles. (2) A person resident outside India who has acquired or purchased units in accordance with this Schedule may sell or transfer in any manne .....

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..... and Exchange Board of India shall determine whether the sponsor or manager or investment manager is foreign owned and controlled. Explanation: Control of the AIF should be in the hands of sponsors and managers/ investment managers , with the general exclusion to others. In case the sponsors and managers/ investment managers of the AIF are individuals, for the treatment of downstream in .....

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