Write-off of debt securities permitted for FPIs surrendering registration, allowing removal of unsaleable holdings from beneficiary accounts. Permission is granted for Foreign Portfolio Investors who intend to surrender their registration to write-off debt securities in their beneficiary accounts that they are unable to sell; this extends the prior permission for write-off of shares and modifies Paragraph 17 of Part C of the earlier circular. Custodians are required to inform their FPI clients, and the circular is issued under the regulator's statutory powers.
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.
Write-off of debt securities permitted for FPIs surrendering registration, allowing removal of unsaleable holdings from beneficiary accounts.
Permission is granted for Foreign Portfolio Investors who intend to surrender their registration to write-off debt securities in their beneficiary accounts that they are unable to sell; this extends the prior permission for write-off of shares and modifies Paragraph 17 of Part C of the earlier circular. Custodians are required to inform their FPI clients, and the circular is issued under the regulator's statutory powers.
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