Purchase/sale of shares and /or convertible debentures by Overseas Corporate Bodies (OCBs) on a Stock Exchange in India under the Portfolio Investment Scheme (PIS)

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....NGE CONTROL DEPARTMENT CENTRAL OFFICE MUMBAI 400 001 A.P. (DIR Series) Circular No.13 November 29, 2001 To All Authorised Dealers in Foreign Exchange Dear Sirs / Madam, Purchase/sale of shares and /or convertible debentures by Overseas Corporate Bodies (OCBs) on a Stock Exchange in India under the Portfolio Investment Scheme (PIS) Authorised Dealers are aware that in terms of Schedule 3 to....

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....ted November 29, 2001 has been issued amending the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000. A copy of the notification is enclosed herewith for ready reference. 5. It is, however, clarified that OCBs will continue to enjoy the facilities of opening and maintaining non-resident accounts as hitherto. OCBs would also continue t....