Overseas investment ceiling for mutual funds increased, expanding permissible corpus for SEBI-registered funds while reporting obligations remain. Aggregate overseas investment limit for Mutual Funds registered with SEBI is increased with immediate effect, while all other SEBI terms, conditions and operational guidelines remain unchanged. Monthly statistical reporting to the Reserve Bank continues to be mandatory, and Authorised Dealer Category I banks must notify their constituents. The directions are issued under the Foreign Exchange Management Act and do not affect permissions required under other laws.
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.
Overseas investment ceiling for mutual funds increased, expanding permissible corpus for SEBI-registered funds while reporting obligations remain.
Aggregate overseas investment limit for Mutual Funds registered with SEBI is increased with immediate effect, while all other SEBI terms, conditions and operational guidelines remain unchanged. Monthly statistical reporting to the Reserve Bank continues to be mandatory, and Authorised Dealer Category I banks must notify their constituents. The directions are issued under the Foreign Exchange Management Act and do not affect permissions required under other laws.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
