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Prohibition on Issue of Foreign Security by a Person Resident in India

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Full Text of the Document

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....on Issue of Foreign Security by a Person Resident in India. (1) Save as otherwise provided in the Act or in sub- regulation (2), no person resident in India shall issue or transfer a foreign security. ^1[(2) A person resident in India, being an Indian Company or a Body Corporate created by an Act of Parliament, (i) may issue FCCBs not exceeding US$50 million, to a person resident ou....

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