Qualified Foreign Investor eligibility and infrastructure debt fund investment rules clarified, with monitoring and prior approval thresholds. Amendment revises the Qualified Foreign Investor definition to align 'person' and 'resident in India' with the Income Tax Act and requires QFIs to be resident in FATF-member jurisdictions and IOSCO MMOU signatory jurisdictions or those with bilateral MOUs with SEBI; exclusions include jurisdictions with FATF countermeasures, residents of India, and entities already registered with SEBI. QFIs may invest in debt mutual fund schemes holding at least 25% in infrastructure within the aggregate investment ceiling, may invest without prior approval until aggregate investment reaches 90% of the ceiling, and thereafter become subject to prior approval, monitoring and reporting; QFIs must comply with FEMA.
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Provisions expressly mentioned in the judgment/order text.
Qualified Foreign Investor eligibility and infrastructure debt fund investment rules clarified, with monitoring and prior approval thresholds.
Amendment revises the Qualified Foreign Investor definition to align "person" and "resident in India" with the Income Tax Act and requires QFIs to be resident in FATF-member jurisdictions and IOSCO MMOU signatory jurisdictions or those with bilateral MOUs with SEBI; exclusions include jurisdictions with FATF countermeasures, residents of India, and entities already registered with SEBI. QFIs may invest in debt mutual fund schemes holding at least 25% in infrastructure within the aggregate investment ceiling, may invest without prior approval until aggregate investment reaches 90% of the ceiling, and thereafter become subject to prior approval, monitoring and reporting; QFIs must comply with FEMA.
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