Mode of payment for non debt investments: inward remittance and specified foreign currency, SNRR, NRE or FCNR(B) accounts. Amendments require that consideration for investments by FPIs be paid by inward remittance or from foreign currency and SNRR accounts maintained under the Deposit Regulations, 2016, with those accounts used exclusively for transactions under the relevant schedule. Sale proceeds of equity instruments and units of REITs, InViTs and domestic mutual funds may be remitted abroad or credited to the investor's foreign currency or SNRR account. For investment in Investment Vehicles, consideration may be paid by inward remittance, share swap of a Special Purpose Vehicle, or from NRE or FCNR(B) accounts, and proceeds may be remitted or credited to NRE, FCNR(B) or SNRR accounts.
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.
Mode of payment for non debt investments: inward remittance and specified foreign currency, SNRR, NRE or FCNR(B) accounts.
Amendments require that consideration for investments by FPIs be paid by inward remittance or from foreign currency and SNRR accounts maintained under the Deposit Regulations, 2016, with those accounts used exclusively for transactions under the relevant schedule. Sale proceeds of equity instruments and units of REITs, InViTs and domestic mutual funds may be remitted abroad or credited to the investor's foreign currency or SNRR account. For investment in Investment Vehicles, consideration may be paid by inward remittance, share swap of a Special Purpose Vehicle, or from NRE or FCNR(B) accounts, and proceeds may be remitted or credited to NRE, FCNR(B) or SNRR accounts.
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