Overseas investments by Alternative Investment Funds now permitted under amended FEMA rules, allowing SEBI-registered AIFs to invest abroad. Indian Alternative Investment Fund (AIF) may undertake overseas investments under the A.P.(DIR Series) Circulars No. 49 and 50 of 2007 subject to SEBI registration; Regulation 26 of the relevant FEMA notification has been amended by Notification No. FEMA.326/RB-2014, effective from its Gazette publication. Authorised Dealer (Category I) banks are to inform constituents and customers; directions issued under Sections 10(4) and 11(1) of FEMA, 1999 and without prejudice to other statutory permissions.
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Overseas investments by Alternative Investment Funds now permitted under amended FEMA rules, allowing SEBI-registered AIFs to invest abroad.
Indian Alternative Investment Fund (AIF) may undertake overseas investments under the A.P.(DIR Series) Circulars No. 49 and 50 of 2007 subject to SEBI registration; Regulation 26 of the relevant FEMA notification has been amended by Notification No. FEMA.326/RB-2014, effective from its Gazette publication. Authorised Dealer (Category I) banks are to inform constituents and customers; directions issued under Sections 10(4) and 11(1) of FEMA, 1999 and without prejudice to other statutory permissions.
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