Reporting of securities write-off: FIIs must report write-offs as nil-value sales and follow prescribed disinvestment procedures. SEBI mandates that securities may be written off only with prior FII approval and must be reported as sales at nil value or as compensation; recovered securities must be reported as purchases after obtaining prior regulatory permission. Where custodians cannot deliver or identify claimants, they must sell such securities on the exchange, credit net proceeds to the regional Investors Protection Fund within seven days, report the sale as a normal sale, and provide monthly confirmations. Custodians act as trustees and must include write-off and disinvestment provisions in client agreements. Reporting transaction codes: write-off 17, write-back 18, disinvestment 4.
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.
Reporting of securities write-off: FIIs must report write-offs as nil-value sales and follow prescribed disinvestment procedures.
SEBI mandates that securities may be written off only with prior FII approval and must be reported as sales at nil value or as compensation; recovered securities must be reported as purchases after obtaining prior regulatory permission. Where custodians cannot deliver or identify claimants, they must sell such securities on the exchange, credit net proceeds to the regional Investors Protection Fund within seven days, report the sale as a normal sale, and provide monthly confirmations. Custodians act as trustees and must include write-off and disinvestment provisions in client agreements. Reporting transaction codes: write-off 17, write-back 18, disinvestment 4.
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