Eligible Foreign Investor deemed Foreign Institutional Investor for IFSC securities transactions paid in foreign currency. A nonresident that qualifies as an Eligible Foreign Investor and complies with the specified regulatory circular shall be deemed a Foreign Institutional Investor for transactions in securities on a recognised stock exchange in an International Financial Services Centre, where consideration for the transaction is paid or payable in foreign currency. The notification relies on statutory definitions for International Financial Services Centre, recognised stock exchange and securities.
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.
Eligible Foreign Investor deemed Foreign Institutional Investor for IFSC securities transactions paid in foreign currency.
A nonresident that qualifies as an Eligible Foreign Investor and complies with the specified regulatory circular shall be deemed a Foreign Institutional Investor for transactions in securities on a recognised stock exchange in an International Financial Services Centre, where consideration for the transaction is paid or payable in foreign currency. The notification relies on statutory definitions for International Financial Services Centre, recognised stock exchange and securities.
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