https://www.taxtmi.com/circulars?id=11539 When an Indian company raises the aggregate FII or NRI investment limit to the applicable sectoral or statutory ceiling, it must immediately intimate the Reserve Bank and submit a Company Secretary's Certificate certifying compliance with the Foreign Exchange Management Act and Foreign Direct Policy. The regulator monitors ceilings daily, uses an operational cut-off below the legal limit to caution designated bank branches, requires reporting of proposed purchases by link offices, and grants clearances on a first-come-first-served basis until the limit is reached, after which purchases are stopped and public notice issued. en-us Mon, 19 Mar 2012 00:00:00 +0530 Mon, 19 Mar 2012 17:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=11539 When an Indian company raises the aggregate FII or NRI investment limit to the applicable sectoral or statutory ceiling, it must immediately intimate the Reserve Bank and submit a Company Secretary's Certificate certifying compliance with the Foreign Exchange Management Act and Foreign Direct Policy. The regulator monitors ceilings daily, uses an operational cut-off below the legal limit to caution designated bank branches, requires reporting of proposed purchases by link offices, and grants clearances on a first-come-first-served basis until the limit is reached, after which purchases are stopped and public notice issued. Circulars FEMA Mon, 19 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/circulars?id=11539