Amendment Expands "Unit" Definition in Foreign Exchange Rules to Include Partly Paid-Up Units, Aligning with SEBI Regulations.

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Full Text of the Document

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....The proposed amendment to the Foreign Exchange Management (Non-debt Instruments) Rules, 2019, marks a significant expansion in the definition of "unit" under clause (aq). By including partly paid-up units, subject to SEBI regulations and government consultation, the amendment reflects an effort to accommodate evolving financial practices and market dynamics within the regulatory framework.....