Asset Reconstruction Companies: non resident investors permitted full ownership under automatic route, SR investments subject to RBI directions. Persons resident outside India may invest up to 100% in Asset Reconstruction Companies under the automatic route, with sponsor shareholding and other investor limits governed by the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act. A single FII/FPI must hold below 10% of paid up capital. FIIs/FPIs may invest in Security Receipts issued by ARCs up to 100% of each tranche, subject to Reserve Bank of India directions/guidelines and applicable regulatory caps.