FPI equity instrument transfers remain subject to sectoral approval, Schedule II limits, and applicable transfer conditions.

Rule 11 permits a Foreign Portfolio Investor to transfer equity instruments of an Indian company or units held in accordance with the applicable rules, subject to conditions in the annexed Schedules, specified terms, and securities-regulatory requirements. Prior Government approval is required where the investee company operates in a sector requiring approval. If an acquisition under Schedule II breaches aggregate FPI or sectoral limits, the corrective mechanism under Schedule II applies.

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