Purchase and Sale of Securities by non-residents: permissions, payment routes, sale conditions and remittance rules specified. Schedule 5 prescribes permissions for specified non-resident investor classes to purchase defined categories of securities on repatriation or non-repatriation basis, sets investment ceilings for certain instruments, requires specified modes of payment through designated foreign currency or rupee accounts, allows use of permitted instruments as collateral where authorised, and governs sale, redemption and remittance or credit of net sale/maturity proceeds in accordance with Reserve Bank and SEBI conditions.
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Provisions expressly mentioned in the judgment/order text.
Purchase and Sale of Securities by non-residents: permissions, payment routes, sale conditions and remittance rules specified.
Schedule 5 prescribes permissions for specified non-resident investor classes to purchase defined categories of securities on repatriation or non-repatriation basis, sets investment ceilings for certain instruments, requires specified modes of payment through designated foreign currency or rupee accounts, allows use of permitted instruments as collateral where authorised, and governs sale, redemption and remittance or credit of net sale/maturity proceeds in accordance with Reserve Bank and SEBI conditions.
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