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.
This circular permits Indian mutual funds to invest in overseas mutual funds/unit trusts (MF/UTs) with exposure to Indian securities, subject to certain conditions. The key points are: Indian MF schemes can invest in overseas MF/UTs with up to 25% exposure to Indian securities. The overseas MF/UTs must have pooled investments, pari-passu rights for investors, independent fund management, public portfolio disclosure, and no advisory agreements with Indian MFs. If an overseas MF/UT exceeds 25% India exposure, Indian MFs have 6 months to monitor portfolio rebalancing, cannot make fresh investments during this period, and must liquidate holdings over the next 6 months if not rebalanced. Non-compliance attracts restrictions on fresh subscriptions, new fund launches, and exit loads. Indian MFs are exempted from fundamental attribute change for switching overseas MF/UTs in case of breach of 25% limit.
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