https://www.taxtmi.com/circulars?id=57869 ODI-issuing FPIs are barred from issuing ODIs with derivatives as underlying except where the derivative position is solely for equivalent hedging of the equity shares held by the FPI. Existing non-hedging ODIs must be liquidated by maturity or the prescribed cutoff, with an expectation of earlier liquidation. Fresh issuances require a compliance officer certificate, to be filed with monthly ODI reports, certifying the derivative is for equivalent hedging in the same underlying equity. The directive is immediately effective and DN/ custodians must notify FPI clients. en-us Fri, 07 Jul 2017 00:00:00 +0530 Sat, 01 Dec 2018 14:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=57869 ODI-issuing FPIs are barred from issuing ODIs with derivatives as underlying except where the derivative position is solely for equivalent hedging of the equity shares held by the FPI. Existing non-hedging ODIs must be liquidated by maturity or the prescribed cutoff, with an expectation of earlier liquidation. Fresh issuances require a compliance officer certificate, to be filed with monthly ODI reports, certifying the derivative is for equivalent hedging in the same underlying equity. The directive is immediately effective and DN/ custodians must notify FPI clients. Circulars SEBI Fri, 07 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/circulars?id=57869