Foreign Portfolio Investor eligibility: resident Indian entities permitted as constituents of IFSC AIFs with sponsor/manager role and capped contribution limits. The amendment permits resident Indians (other than individuals) to be constituents of Foreign Portfolio Investor applicants where the applicant is an Alternative Investment Fund established in an International Financial Services Centre and regulated by the International Financial Services Centres Authority, provided the resident entity is a Sponsor or Manager. Contributions by such resident constituents are capped and determined as the lower of a fixed percentage of the applicant's corpus or a fixed monetary ceiling, with different caps for Category I/II and Category III Alternative Investment Funds. A minor punctuation correction is also made.
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.
Foreign Portfolio Investor eligibility: resident Indian entities permitted as constituents of IFSC AIFs with sponsor/manager role and capped contribution limits.
The amendment permits resident Indians (other than individuals) to be constituents of Foreign Portfolio Investor applicants where the applicant is an Alternative Investment Fund established in an International Financial Services Centre and regulated by the International Financial Services Centres Authority, provided the resident entity is a Sponsor or Manager. Contributions by such resident constituents are capped and determined as the lower of a fixed percentage of the applicant's corpus or a fixed monetary ceiling, with different caps for Category I/II and Category III Alternative Investment Funds. A minor punctuation correction is also made.
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 
