Foreign investment in infrastructure debt funds permitted on repatriation basis with eligibility, maturity, lock in and caps. Permits repatriation basis foreign investment into IDFs set up as NBFCs or SEBI registered mutual funds, by specified SEBI registered sovereign, multilateral, pension, insurance, endowment funds, FIIs, NRIs and SEBI registered HNIs; eligible instruments include rupee units and rupee or, for qualifying investors, foreign currency denominated bonds. All investments require an original five year maturity and a three year lock in (with intra non resident trading allowed). Foreign currency bonds must meet ECB conditions, hedging is permitted under FEMA, and quantitative limits apply to non NRI investments while NRIs face no cap for rupee securities.
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 infrastructure debt funds permitted on repatriation basis with eligibility, maturity, lock in and caps.
Permits repatriation basis foreign investment into IDFs set up as NBFCs or SEBI registered mutual funds, by specified SEBI registered sovereign, multilateral, pension, insurance, endowment funds, FIIs, NRIs and SEBI registered HNIs; eligible instruments include rupee units and rupee or, for qualifying investors, foreign currency denominated bonds. All investments require an original five year maturity and a three year lock in (with intra non resident trading allowed). Foreign currency bonds must meet ECB conditions, hedging is permitted under FEMA, and quantitative limits apply to non NRI investments while NRIs face no cap for rupee securities.
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