Purchase and sale of shares/ convertible debentures by a Non-resident Indian (NRI) on non-repatriation basis - [See Regulation 5 (3) (ii)]

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....nership firm incorporated outside India and owned and controlled by non-resident Indians, may acquire and hold, on non-repatriation basis, equity shares, convertible preference shares, convertible debenture, warrants or units, which will be deemed to be domestic investment at par with the investment made by residents. Without loss of generality, it is stated that  a. An NRI may acquire, on non-repatriation basis, any security issued by a company without any limit either on the stock exchange or outside it. b. An NRI may invest, on non-repartition basis, in units issued by an investment vehicle without any limit, either on the stock exchange or outside it. c. An NRI may contribute, on non-repatriation basis, t....

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....chedule shall be paid by way of inward remittance through normal banking channel from abroad or out of funds held in NRE/FCNR/NRO account maintained with a bank in India:  Sale/ Maturity proceeds  4. The sale/maturity proceeds (net of applicable taxes) of the securities or units acquired under this Schedule shall be credited only to NRO account irrespective of the type of account from which the considerations for acquisition were paid.  5. The amount invested under this Scheme and the capital appreciation thereon shall not be allowed to be repatriated abroad.]     ***************** NOTES:- 1. Substituted vide Notification No. 179/2008 dated 22-08-2008, before substitution as inserted vi....

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....er of shares to multinational financial institutions such as Asian Development Bank (ADB), International Finance Corporation (IFC), Commonwealth Development Corporation (CDC),. Deutsche Entwicktungs Gescelscchaft (DEG). (b) transfer of shares of an Indian company engaged in Information Technology sector or in the mining sector, if the existing joint venture or technology transfer/trade mark agreement of the person to whom the shares are to be transferred are also in the Information Technology sector or in the mining sector for same area/mineral. (c) investment to be made by Venture Capital: Funds registered with SEBI; investments by multinational financial institutions or where in the existing joint-venture investment by e....

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....shares or convertible debentures" 11. Substituted vide Notification No. FEMA. 308/2014-RB, dated 30-06-2014, w.e.f. 30-06-2014 before it was read as, "shares or convertible debentures" 12. Substituted vide Notification No. FEMA. 308/2014-RB, dated 30-06-2014, w.e.f. 30-06-2014 before it was read as, "shares or convertible debentures" 13. Substituted vide Notification No. FEMA. 308/2014-RB, dated 30-06-2014, w.e.f. 30-06-2014 before it was read as, "shares or convertible debentures" 14. Substituted vide Notification No. 361/2016-RB - dated 15-02-2016, w.e.f. 15-02-2016 before it was read as, "SCHEDULE 4 [See Regulation 5 (....