Foreign investment in investment vehicles allowed with ownership control and remittance conditions on subscription and downstream investment. Permits investment by persons resident outside India (excluding Pakistan and Bangladesh) into Investment Vehicle units, payable by inward remittance, SPV share swap, or NRE/FCNR(B) funds; units may be sold, transferred or redeemed under SEBI regulations or RBI directions. Downstream investments by such Investment Vehicles are treated as indirect foreign investment if Sponsors or Managers are foreign owned or controlled, with SEBI determining status for non-company forms and individual sponsors/managers required to be resident Indian citizens for domestic treatment. AIF Category III with foreign investment may invest only in instruments allowed to FPIs. Sale or maturity proceeds may be repatriated or credited to NRE/FCNR(B) accounts.
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.
Foreign investment in investment vehicles allowed with ownership control and remittance conditions on subscription and downstream investment.
Permits investment by persons resident outside India (excluding Pakistan and Bangladesh) into Investment Vehicle units, payable by inward remittance, SPV share swap, or NRE/FCNR(B) funds; units may be sold, transferred or redeemed under SEBI regulations or RBI directions. Downstream investments by such Investment Vehicles are treated as indirect foreign investment if Sponsors or Managers are foreign owned or controlled, with SEBI determining status for non-company forms and individual sponsors/managers required to be resident Indian citizens for domestic treatment. AIF Category III with foreign investment may invest only in instruments allowed to FPIs. Sale or maturity proceeds may be repatriated or credited to NRE/FCNR(B) accounts.
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