Custodian appointment requirement: pre-investment custody agreements plus duties to monitor investments and furnish reports to regulator. A foreign venture capital investor or its global custodian must enter into an agreement with a designated depository participant and a custodian before investing. The custodian is responsible for monitoring the investor's Indian investments, furnishing periodic reports and information to the regulator on request, ensuring no new investment or sale occurs until the prescribed renewal fee is paid, and complying with any additional conditions specified by the regulator.
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.
Custodian appointment requirement: pre-investment custody agreements plus duties to monitor investments and furnish reports to regulator.
A foreign venture capital investor or its global custodian must enter into an agreement with a designated depository participant and a custodian before investing. The custodian is responsible for monitoring the investor's Indian investments, furnishing periodic reports and information to the regulator on request, ensuring no new investment or sale occurs until the prescribed renewal fee is paid, and complying with any additional conditions specified by the regulator.
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