Qualified Foreign Investors may buy rupee equity mutual fund units via direct or indirect routes, subject to KYC and repatriation. Qualified Foreign Investors meeting SEBI KYC norms may purchase rupee denominated units of equity schemes of SEBI registered domestic mutual funds on a repatriation basis via two routes: Direct Route through SEBI registered Depository Participants using a separate single rupee pool bank account, and Indirect Route via Unit Confirmation Receipts with limited foreign currency accounts for subscription and redemption. Investments are non tradable, subject to jurisdictional compliance standards, KYC by DPs and mutual funds, monitoring against a global investment ceiling, prescribed timelines for fund transfer and repatriation, and applicable FEMA provisions.
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.
Qualified Foreign Investors may buy rupee equity mutual fund units via direct or indirect routes, subject to KYC and repatriation.
Qualified Foreign Investors meeting SEBI KYC norms may purchase rupee denominated units of equity schemes of SEBI registered domestic mutual funds on a repatriation basis via two routes: Direct Route through SEBI registered Depository Participants using a separate single rupee pool bank account, and Indirect Route via Unit Confirmation Receipts with limited foreign currency accounts for subscription and redemption. Investments are non tradable, subject to jurisdictional compliance standards, KYC by DPs and mutual funds, monitoring against a global investment ceiling, prescribed timelines for fund transfer and repatriation, and applicable FEMA provisions.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
