Post-expiry disinvestment permission allows FIIs to sell residual illiquid holdings subject to prior regulatory approvals and reporting. SEBI permits FIIs and sub accounts to seek time limited approval to retain and sell residual or illiquid securities after registration expiry by submitting holdings in the prescribed annexure; approvals will be communicated to the central bank for foreign exchange clearance, authorise only disposals of existing holdings (no purchases), allow corporate benefits and rights applications, require custodians and FIIs to report trades, and permit case by case extensions if sales are not completed within the authorised period.
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.
Post-expiry disinvestment permission allows FIIs to sell residual illiquid holdings subject to prior regulatory approvals and reporting.
SEBI permits FIIs and sub accounts to seek time limited approval to retain and sell residual or illiquid securities after registration expiry by submitting holdings in the prescribed annexure; approvals will be communicated to the central bank for foreign exchange clearance, authorise only disposals of existing holdings (no purchases), allow corporate benefits and rights applications, require custodians and FIIs to report trades, and permit case by case extensions if sales are not completed within the authorised period.
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