FPI contribution limits restrict individual and NRI/OCI stakes, mandate remittance routing and control safeguards. Regulation 4(c) now requires that a single NRI/OCI/resident Indian individual contribute less than twenty-five percent of an applicant's corpus, with aggregate contributions of NRIs, OCIs and resident Indian individuals capped below fifty percent; resident Indian individual contributions must be made through the RBI's Liberalised Remittance Scheme into global funds with Indian exposure under fifty percent; such persons must not control the applicant; the Board may specify further conditions. Provisos exempt IFSC-regulated applicants subject to Board conditions and preserve existing Board exemptions as of notification.
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Provisions expressly mentioned in the judgment/order text.
FPI contribution limits restrict individual and NRI/OCI stakes, mandate remittance routing and control safeguards.
Regulation 4(c) now requires that a single NRI/OCI/resident Indian individual contribute less than twenty-five percent of an applicant's corpus, with aggregate contributions of NRIs, OCIs and resident Indian individuals capped below fifty percent; resident Indian individual contributions must be made through the RBI's Liberalised Remittance Scheme into global funds with Indian exposure under fifty percent; such persons must not control the applicant; the Board may specify further conditions. Provisos exempt IFSC-regulated applicants subject to Board conditions and preserve existing Board exemptions as of notification.
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