https://www.taxtmi.com/circulars?id=2010 The circular derecognises Overseas Corporate Bodies (OCBs) as an eligible investor class, barring them and unincorporated entities from fresh FDI (including Automatic Route) and from opening new NRE, FCNR(B) and NRO accounts. It prohibits OCBs from making fresh purchases of specified securities, participating in rights issues, transferring shares to other OCBs, and lending or accepting deposits under set conditions. Existing holdings and certain deposits may be retained until maturity, with repatriation of proceeds as authorised; disposal of non repatriable investments requires prior approval. en-us Tue, 16 Sep 2003 00:00:00 +0530 Fri, 03 Oct 2008 17:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=2010 The circular derecognises Overseas Corporate Bodies (OCBs) as an eligible investor class, barring them and unincorporated entities from fresh FDI (including Automatic Route) and from opening new NRE, FCNR(B) and NRO accounts. It prohibits OCBs from making fresh purchases of specified securities, participating in rights issues, transferring shares to other OCBs, and lending or accepting deposits under set conditions. Existing holdings and certain deposits may be retained until maturity, with repatriation of proceeds as authorised; disposal of non repatriable investments requires prior approval. Circulars FEMA Tue, 16 Sep 2003 00:00:00 +0530 https://www.taxtmi.com/circulars?id=2010