Foreign investment limit in credit-enhanced bonds: purchases monitored, subject to depository approval and mandatory divestment on breach. FIIs and QFIs may invest in credit enhanced bonds within the corporate bond foreign investment ceiling and a dedicated sublimit. Depositories must monitor and publish aggregate holdings daily, receiving same-day ISIN-wise and investor-wise transaction reports from Custodians/QDPs. When a threshold of the sublimit is reached, depositories will announce it, suspend fresh purchases without prior depository approval, and coordinate prior-approval requests received via Custodians/QDPs; approvals are granted after market hours on a first-come-first-served basis and valid for two trading days. Breaches require notified FIIs/QFIs to divest excess holdings within seven working days.
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 limit in credit-enhanced bonds: purchases monitored, subject to depository approval and mandatory divestment on breach.
FIIs and QFIs may invest in credit enhanced bonds within the corporate bond foreign investment ceiling and a dedicated sublimit. Depositories must monitor and publish aggregate holdings daily, receiving same-day ISIN-wise and investor-wise transaction reports from Custodians/QDPs. When a threshold of the sublimit is reached, depositories will announce it, suspend fresh purchases without prior depository approval, and coordinate prior-approval requests received via Custodians/QDPs; approvals are granted after market hours on a first-come-first-served basis and valid for two trading days. Breaches require notified FIIs/QFIs to divest excess holdings within seven working days.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
