Foreign direct investment eligibility expanded to include Sri Lankan nationals, allowing share and convertible debenture purchases under specified conditions. Persons resident outside India, including Sri Lankan citizens but excluding citizens/entities of Bangladesh and Pakistan, are now eligible to purchase shares or convertible debentures of Indian companies under the Foreign Direct Investment scheme subject to the terms and conditions in Schedule I of the Transfer or Issue of Security by a Person Resident Outside India Regulations; a formal amendment to the Regulations will follow and Authorised Dealer banks must notify their constituents.
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Provisions expressly mentioned in the judgment/order text.
Foreign direct investment eligibility expanded to include Sri Lankan nationals, allowing share and convertible debenture purchases under specified conditions.
Persons resident outside India, including Sri Lankan citizens but excluding citizens/entities of Bangladesh and Pakistan, are now eligible to purchase shares or convertible debentures of Indian companies under the Foreign Direct Investment scheme subject to the terms and conditions in Schedule I of the Transfer or Issue of Security by a Person Resident Outside India Regulations; a formal amendment to the Regulations will follow and Authorised Dealer banks must notify their constituents.
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