Off-market transfer of securities permitted for FPI relocation to IFSC subject to DDP approval and tax and FEMA compliance. A one-time off-market transfer is authorised for an FPI or its wholly owned special purpose vehicle to relocate holdings to a resultant fund, subject to DDP approval after appropriate due diligence. A relocation request is deemed an application for surrender of FPI registration, and the transfer is permitted without prejudice to tax laws and FEMA. DDPs and custodians must notify clients; the circular modifies an earlier SEBI instruction accordingly.
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.
Off-market transfer of securities permitted for FPI relocation to IFSC subject to DDP approval and tax and FEMA compliance.
A one-time off-market transfer is authorised for an FPI or its wholly owned special purpose vehicle to relocate holdings to a resultant fund, subject to DDP approval after appropriate due diligence. A relocation request is deemed an application for surrender of FPI registration, and the transfer is permitted without prejudice to tax laws and FEMA. DDPs and custodians must notify clients; the circular modifies an earlier SEBI instruction accordingly.
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