Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Amendment) Regulations, 2001

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.... Exchange Control Department Central Office Mumbai-400 001 Notification No. FEMA. 41 /2001-RB dated March 2, 2001 Published in the Official Gazette of Government of India - Extraordinary - Part-II, Section 3, Sub-Section (i) dated 02.03.2001 - G.S.R. No. 158(E) In exercise of the powers conferred by clause (b) of sub-section (3) of Section 6 and Section 47 of the Foreign Exchange Manag....

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....ed broker in India may purchase shares of an Indian Company on behalf of a person resident outside India, for the purpose of converting the shares so purchased into ADRs/GDRs, Provided that i. the shares are purchased on a recognized stock exchange; ii. the Indian company has issued ADRs/GDRs; iii. the shares are purchased with the permission of Custodian of the ADRs/GDRs of ....

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....od of one month. iii) The sponsoring company shall comply with the provisions of the Scheme for Issue of Foreign Currency Convertible Bonds and Ordinary Shares (Through Depository Receipt Mechanism) Scheme, 1993 and guidelines issued thereunder by the Central Government from time to time; iv) the sponsoring company shall furnish full details of such issue in a form specified in Annexure C to....