Foreign direct investment compliance: NoC filing waived under foreign exchange rules but regulator due diligence remains required. Transfers of shares in financial sector investee companies from residents to non residents no longer require filing of No Objection Certificate (NoC) with form FC TRS under the Foreign Exchange Management regime; however, any fit and proper/due diligence requirements imposed by the sectoral regulator for the non resident investor must still be observed and complied with.
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Provisions expressly mentioned in the judgment/order text.
Foreign direct investment compliance: NoC filing waived under foreign exchange rules but regulator due diligence remains required.
Transfers of shares in financial sector investee companies from residents to non residents no longer require filing of No Objection Certificate (NoC) with form FC TRS under the Foreign Exchange Management regime; however, any fit and proper/due diligence requirements imposed by the sectoral regulator for the non resident investor must still be observed and complied with.
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