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

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....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 Management Act, 1999 (42 of 1999....

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....res 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 the concerned Indian company and are deposited wi....