Stockinvest issuance to NRIs/OCBs permits repatriable primary market applications under prescribed lien and documentation conditions. Stockinvest may be used by NRIs and OCBs to apply in primary market public issues for repatriable allotments, provided authorised dealers issue light green Stockinvest superscribed to show it is against lien on the investor's NRE/FCNR account and payable only from repatriable funds in that account; authorised dealers must follow all applicable regulatory guidelines and ensure prior permission and compliance with foreign exchange regulation penalties for contravention.
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.
Stockinvest issuance to NRIs/OCBs permits repatriable primary market applications under prescribed lien and documentation conditions.
Stockinvest may be used by NRIs and OCBs to apply in primary market public issues for repatriable allotments, provided authorised dealers issue light green Stockinvest superscribed to show it is against lien on the investor's NRE/FCNR account and payable only from repatriable funds in that account; authorised dealers must follow all applicable regulatory guidelines and ensure prior permission and compliance with foreign exchange regulation penalties for contravention.
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