Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
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This circular outlines the procedure for reclassification of Foreign Portfolio Investment (FPI) to Foreign Direct Investment (FDI). If an FPI's investment reaches 10% or more of a company's paid-up equity capital, and the FPI intends to reclassify its holdings as FDI, it must follow extant FEMA rules and RBI circulars. The custodian shall report this intent to SEBI, freeze the FPI's purchase transactions, and upon completion of RBI reporting, transfer the equity instruments from the FPI's demat account to its FDI demat account. The circular modifies the previous procedure outlined in the Master Circular and comes into immediate effect under SEBI's powers to regulate securities market.
This circular outlines the procedure for reclassification of Foreign Portfolio Investment (FPI) to Foreign Direct Investment (FDI). If an FPI's investment reaches 10% or more of a company's paid-up equity capital, and the FPI intends to reclassify its holdings as FDI, it must follow extant FEMA rules and RBI circulars. The custodian shall report this intent to SEBI, freeze the FPI's purchase transactions, and upon completion of RBI reporting, transfer the equity instruments from the FPI's demat account to its FDI demat account. The circular modifies the previous procedure outlined in the Master Circular and comes into immediate effect under SEBI's powers to regulate securities market.
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