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        FEMA

        Regulation 6 - Permission to Hedge Certain Transactions

        Foreign Exchange Management [Withdrawal of General Permission To Overseas Corporate Bodies (OCBS)] Regulations, 2003

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        Permission to hedge: overseas corporate bodies may enter rupee denominated forward contracts with authorised dealers to hedge specified exposures. An OCB may enter into a rupee denominated forward contract with an Authorised Dealer in India to hedge: dividends on existing equity investments in Indian companies; balances in existing FCNR or NRE rupee term deposit accounts; and amounts of existing investments made under the Portfolio Investment Scheme or under the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000, subject to the terms and conditions specified in the proviso to paragraph 1 of Schedule II to the Foreign Exchange Derivative Contracts Regulations.
                        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.

                              Permission to hedge: overseas corporate bodies may enter rupee denominated forward contracts with authorised dealers to hedge specified exposures.

                              An OCB may enter into a rupee denominated forward contract with an Authorised Dealer in India to hedge: dividends on existing equity investments in Indian companies; balances in existing FCNR or NRE rupee term deposit accounts; and amounts of existing investments made under the Portfolio Investment Scheme or under the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000, subject to the terms and conditions specified in the proviso to paragraph 1 of Schedule II to the Foreign Exchange Derivative Contracts Regulations.


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