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        FEMA

        Rule 7 - Rights Issue and Bonus Shares

        Foreign Exchange Management (Overseas Investment) Rules, 2022

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        Rights issue and bonus shares: resident investors may subscribe or renounce rights domestically or to overseas persons under rules. Residents holding equity in a foreign entity may subscribe to equity issued as a rights issue or be granted bonus shares, subject to the Act and applicable rules. A resident acquiring rights under a rights issue may renounce those rights in favour of a person resident in India or a person resident outside India, contingent on the procedural and compliance conditions prescribed by the overseas investment 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.

                                Rights issue and bonus shares: resident investors may subscribe or renounce rights domestically or to overseas persons under rules.

                                Residents holding equity in a foreign entity may subscribe to equity issued as a rights issue or be granted bonus shares, subject to the Act and applicable rules. A resident acquiring rights under a rights issue may renounce those rights in favour of a person resident in India or a person resident outside India, contingent on the procedural and compliance conditions prescribed by the overseas investment regulations.


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