https://www.taxtmi.com/circulars?id=67899 The framework permits FPIs exceeding the prescribed limit to reclassify holdings to FDI subject to obtaining applicable Government approvals, investee company concurrence, and adherence to FDI entry conditions and sectoral caps. The FPI must notify its Custodian, which freezes purchases until reclassification; complete prescribed reporting (FC-GPR for fresh issuance, FC-TRS for secondary-market acquisition) and AD bank LEC reporting; and then request custodial transfer of securities from the FPI demat to the FDI demat. The date causing the breach is the date of reclassification and the holding thereafter is treated as FDI. en-us Mon, 11 Nov 2024 00:00:00 +0530 Mon, 11 Nov 2024 16:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=67899 The framework permits FPIs exceeding the prescribed limit to reclassify holdings to FDI subject to obtaining applicable Government approvals, investee company concurrence, and adherence to FDI entry conditions and sectoral caps. The FPI must notify its Custodian, which freezes purchases until reclassification; complete prescribed reporting (FC-GPR for fresh issuance, FC-TRS for secondary-market acquisition) and AD bank LEC reporting; and then request custodial transfer of securities from the FPI demat to the FDI demat. The date causing the breach is the date of reclassification and the holding thereafter is treated as FDI. Circulars FEMA Mon, 11 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/circulars?id=67899