FOREIGN EXCHANGE MANAGEMENT (TRANSFER OR ISSUE OF SECURITY BY A PERSON RESIDENT OUTSIDE INDIA) REGULATIONS, 2000 (From Regulation 1 to Regulation SCHEDULE 11)
Acquisition of right shares permits non-residents to buy rights subject to foreign equity limits, pricing and repatriation rules. Non-residents may buy equity, preference shares or convertible debentures on rights basis if the offer does not increase foreign equity beyond approved or permissible levels, existing non-resident shareholders' applications keep overall foreign holding within the sectoral cap, and the rights relate to original securities held in compliance with the Regulations. Listed-company rights may be priced by the company; unlisted-company rights to non-residents must not be priced below the resident offer. Rights remain subject to the same conditions including repatriability, with prescribed inward remittance or eligible account debits for payment.
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.
Acquisition of right shares permits non-residents to buy rights subject to foreign equity limits, pricing and repatriation rules.
Non-residents may buy equity, preference shares or convertible debentures on rights basis if the offer does not increase foreign equity beyond approved or permissible levels, existing non-resident shareholders' applications keep overall foreign holding within the sectoral cap, and the rights relate to original securities held in compliance with the Regulations. Listed-company rights may be priced by the company; unlisted-company rights to non-residents must not be priced below the resident offer. Rights remain subject to the same conditions including repatriability, with prescribed inward remittance or eligible account debits for payment.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.