https://www.taxtmi.com/circulars?id=52339 If an FII wishes to hedge rupee exposure relating to securities against which it has issued Participatory Notes or Overseas Derivative Instruments, it must have a mandate from the PN/ODI holder; Authorised Dealer Category I banks must verify such mandates or, if verification is difficult, may accept a declaration from the FII describing the PN/ODI structure and confirming hedges are undertaken pursuant to specific client mandates. en-us Thu, 01 Aug 2013 00:00:00 +0530 Thu, 01 Aug 2013 15:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=52339 If an FII wishes to hedge rupee exposure relating to securities against which it has issued Participatory Notes or Overseas Derivative Instruments, it must have a mandate from the PN/ODI holder; Authorised Dealer Category I banks must verify such mandates or, if verification is difficult, may accept a declaration from the FII describing the PN/ODI structure and confirming hedges are undertaken pursuant to specific client mandates. Circulars FEMA Thu, 01 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/circulars?id=52339