Equity-instrument swaps between Indian and non-resident investors require regulatory compliance and prior approval where approval applies. Rule 9A permits transfers of equity instruments of an Indian company between resident and non-resident persons through swaps of equity instruments or ... Summary
Equity-instrument swaps between Indian and non-resident investors require regulatory compliance and prior approval where approval applies.
Rule 9A permits transfers of equity instruments of an Indian company between resident and non-resident persons through swaps of equity instruments or foreign-company equity capital. Such swaps must comply with applicable Central Government rules and Reserve Bank regulations, including the Foreign Exchange Management (Overseas Investment) Rules, 2022 for foreign-company equity capital. Prior Government approval is required wherever the transfer is subject to an approval requirement.
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