Escrow account authorization for non-residents allows domestic currency escrow for acquisitions, subject to FEMA and SEBI compliance. A non-resident may open an escrow account in India with an authorized dealer bank in domestic currency for acquisition of shares or convertible debentures through open offers, delisting or exit offers, subject to the terms of the Foreign Exchange Management (Deposit) Regulations and compliance with SEBI Substantial Acquisition of Shares and Takeovers Regulations; such escrow accounts may be funded by inward remittance through normal banking channels and/or by a guarantee from an authorized dealer bank under the Foreign Exchange Management (Guarantees) Regulations.