FOREIGN EXCHANGE MANAGEMENT (TRANSFER OR ISSUE OF SECURITY BY A PERSON RESIDENT OUTSIDE INDIA) REGULATIONS, 2000 (From Regulation 1 to Regulation SCHEDULE 11)
Downstream investment treated as foreign investment when sponsor or manager is not Indian owned and controlled, triggering compliance. Persons resident outside India, including RFPIs and NRIs, may invest in Investment Vehicle units subject to Schedule 11; payment must be by inward remittance (including NRE/FCNR accounts) and units may be sold, transferred or redeemed per SEBI or RBI rules. Downstream investment is treated as foreign investment if the Sponsor, Manager, or Investment Manager is not Indian owned and controlled, irrespective of the extent of foreign capital in the vehicle. Such downstream foreign investment must comply with applicable sectoral caps, LLP rules, and reporting requirements to RBI or SEBI; AIF Category III with foreign investment is limited to RFPI-eligible instruments.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Downstream investment treated as foreign investment when sponsor or manager is not Indian owned and controlled, triggering compliance.
Persons resident outside India, including RFPIs and NRIs, may invest in Investment Vehicle units subject to Schedule 11; payment must be by inward remittance (including NRE/FCNR accounts) and units may be sold, transferred or redeemed per SEBI or RBI rules. Downstream investment is treated as foreign investment if the Sponsor, Manager, or Investment Manager is not Indian owned and controlled, irrespective of the extent of foreign capital in the vehicle. Such downstream foreign investment must comply with applicable sectoral caps, LLP rules, and reporting requirements to RBI or SEBI; AIF Category III with foreign investment is limited to RFPI-eligible instruments.
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