Exemption for FII divestment where sales respond to ADR/GDR offers, subject to operative guidelines and RBI directions. Amendment adds a proviso to regulation 15(3)(c) exempting that clause from applying to divestment of securities by Foreign Institutional Investors in response to offers by Indian companies under the Operative Guidelines for disinvestment through ADR or GDR, subject to compliance with those Government of India guidelines and directions issued by the Reserve Bank of India under the Foreign Exchange Management Act.
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.
Exemption for FII divestment where sales respond to ADR/GDR offers, subject to operative guidelines and RBI directions.
Amendment adds a proviso to regulation 15(3)(c) exempting that clause from applying to divestment of securities by Foreign Institutional Investors in response to offers by Indian companies under the Operative Guidelines for disinvestment through ADR or GDR, subject to compliance with those Government of India guidelines and directions issued by the Reserve Bank of India under the Foreign Exchange Management Act.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
