TaxTMI 
TaxTMI 
Securities and Exchange Board of India (Foreign Venture Capital Investors) (Amendment) Regulations, 2024
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....), a. after clause (a) and before clause (b), the following clauses shall be inserted, namely, - "(aa) "Bilateral Memorandum of Understanding with the Board" means a bilateral Memorandum of Understanding between the Board and any authority outside India that provides for information sharing arrangement as specified under clause (ib) of sub-section (2) of section 11 of the Act; (ab) "Board" means the Securities and Exchange Board of India established under section 3 of the Act;" b. clause (b) shall be substituted with the following clause, namely,- "(b) "certificate" means a certificate of registration granted to a foreign venture capital investor by the designated depository participant on behalf of the Board under these regulations;" c. after clause (b) and before clause (c), the following clause shall be inserted, namely,- "(ba) "control" includes the right to appoint majority of the directors or to control the management or policy decisions exercisable by a person or persons acting individually or in concert, directly or indirectly, including by virtue of shareholding or management rights or shareholders....
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....(1) No person shall buy, sell or otherwise deal in securities as a foreign venture capital investor unless it has obtained a certificate granted by a designated depository participant on behalf of the Board. (2) An application for the grant of certificate as a foreign venture capital investor shall be made to a designated depository participant in the Form and in the manner specified by the Government or the Board from time to time: Provided that the foreign venture capital investors who have been granted a certificate of registration before the notification of the Securities and Exchange Board of India (Foreign Venture Capital Investors) (Amendment) Regulations, 2024 shall engage a designated depository participant in the manner and subject to such conditions as may be specified by the Board. (3) The application shall be supported by the fee specified in the Second Schedule and by any documents in the manner specified by the Board from time to time." III. Regulation 4 shall be substituted with the following, namely,- "Eligibility Criteria. 4. A designated depository participant shall consider an application for grant of certificate o....
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.... V. regulation 5 shall be substituted with the following, namely,- "Furnishing of information and personal representation. 5.(1) The Board or the designated depository participant may require the applicant to furnish such further information or clarification as may be considered necessary for the grant of the certificate of registration as a foreign venture capital investor. (2) The applicant or its authorized representative shall, if so required by the Board or the designated depository participant, appear before them for personal representation in connection with the grant of a certificate." VI. regulation 6 shall be substituted with the following, namely,- "Application to conform to the requirements. 6.(1) An application for grant of certificate of registration to act as a foreign venture capital investor, which is not complete in all respects or is false or misleading in any material particular or does not satisfy the requirements specified in these regulations shall be deemed to be deficient and liable to be rejected by the designated depository participant: Provided that before rejecting any such application....
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....ny grievance with respect to its application or if the designated depository participant has any question in respect of interpretation of any provision of these regulations, it may approach the Board for appropriate instructions." VIII. regulation 8 shall be substituted with the following, namely,- "Conditions of certificate. 8.(1) The certificate granted to the foreign venture capital investor under regulation 7 shall be subject to the following conditions, namely:- (a) it shall abide by the provisions of the Act, and these regulations; (b) it shall appoint a domestic custodian for purpose of custody of securities; (c) it shall enter into arrangement with a designated bank for the purpose of operating a special non-resident rupee or foreign currency account; (2) The foreign venture capital investor shall provide necessary information sought by the designated depository participant to review the eligibility of the entity to hold the certificate of registration as a foreign venture capital investor. (3) If the foreign venture capital investor no longer satisfies the eligibility criteria under R....
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....yment of renewal fee, subject to maximum of one and half times of the renewal fee: Provided that until the renewal fee is paid, the foreign venture capital investor shall not make any new investment or sell its existing investments: Provided further that until the renewal fee is paid, the foreign venture capital investors who have been granted a certificate of registration before the notification of the Securities and Exchange Board of India (Foreign Venture Capital Investors) (Amendment) Regulations, 2024 shall not make any new investment: Provided further that if the renewal fee, along with late fee, is not paid within thirty days from the date of expiry of the block for which fee has been paid, the certificate of registration of the foreign venture capital investor shall be liable to be suspended or cancelled. (5) The suspension and cancellation of certificate of registration of a foreign venture capital investor, shall be dealt with in the manner as provided in Chapter V of the Securities and Exchange Board of India (Intermediaries) Regulations, 2008. (6) Any foreign venture capital investor desirous of surrendering the certifi....
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....s already submitted, in the manner and within the timelines as may be specified by the Board from time to time. (d) inform the Board and designated depository participant in writing, if there is any material change in the information including any direct or indirect change in its structure or ownership or control previously furnished by him to the Board or designated depository participant, in the manner and within the timelines as may be specified by the Board from time to time; (e) as soon as possible but not later than seven working days, inform the Board and the designated depository participant, in case of any penalty, pending litigation or proceedings, findings of inspections or investigations for which action may have been taken or is in the process of being taken by an overseas regulator against it, in the manner and within the timelines as may be specified by the Board from time to time; (f) as and when required by the Board or any other Government agency in India, submit any information, record or documents in relation to its activities as a foreign venture capital investor; (g) obtain a Permanent Account Number from the Income Ta....
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....no conflict of interest between the activity of grant of registration to a foreign venture capital investor in the capacity of a designated depository participant and its other activities. (4) The designated depository participant shall maintain the relevant true and fair records, books of accounts, and documents including the physical or electronic records relating to registration of foreign venture capital investors. (5) The designated depository participant shall intimate to the Board in writing the location where such books, records and documents shall be maintained. (6) Subject to the provisions of any other law for the time being in force, every designated depository participant shall preserve the books of accounts, physical or electronic records and documents specified in this regulation at all times." XIII. The First Schedule and the Second Schedule shall be substituted with the following, namely,- "FIRST SCHEDULE PART A FORM A Securities and Exchange Board of India (Foreign Venture Capital Investors) Regulations, 2000 [See regulation 3(2)] Application Form for Gra....
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....p; Name of Premises/Building/ village Road/ Street/Lane/ Post Office Area/ Locality/ Taluka/ Sub-Division Town/ City/ District State/Union Territory Pin Code/ Zip Code Country 7.3 Address of Communication/Correspondence - (Please tick as applicable) Registered address Office address (foreign) Office address (India) 7.4 Contact Details: S.No Particulars Registered address Office address Country Code Area/ STD Code Number Country Code Area/ STD Code Number 1. Telephone Number 2. Fax Number 3. Mobile Number 4. Email ID 5. Website ....
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.... 10.2. Does it have few persons or persons of the same family holding beneficial ownership and control? Yes /No 11. Income details Particulars Details Source of Income: Please select the most appropriate: 1) Capital Gains 2) Income from Business/ Profession 3) No Income 4) Income from other Sources 5) Income from House Property b) Code for Business / Profession Code Business/Profession Code Business profession 01 Medical Profession and Business 11 Films, TV and such other entertainment 02 Engineering 12 Information Technology 03 Architecture 13 Builders and Developers 04 Chartered Accountant/ Accountancy 14 Members of Stock Exchange, Share Brokers and Sub-Brokers 05 Interior Decoration 15 Performing Arts and Yatra 06 Technical Consultancy 16 Operation of Ships, Hovercraft, Aircrafts or Helicopters 07 Company Secretary 17 Plying Taxis, Lorries, Trucks, Buses or other Commercial Vehicles 08 ....
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....nbsp; with regulator, if any Category / Capacity in which the applicant is Regulated 18. Whether the applicant is coming through Global Custodian? Yes/No If yes, please provide name of Global custodian Name of Regulator Country of Regulator Registration Number/ code with regulator, if any Address 19. Details of the designated depository participant, custodian and Depository Participant: a). Details of Designated Depository Participant Name of the Designated Depository Participant SEBI Registration number for DDP/Custodian b) Details of Custodian Name of the Custodian SEBI Registration number for Custodian c) Details of Depository Participant Name of the Depository Participant SEBI Registration number for Depository Participant 20. Details of the designated bank Name of the Bank and Branch Address 21. Details of Prior association with Indian securities market Whether the applicant is/was anytime associated with....
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....nditions specified by the Board from time to time. We hereby declare that we fulfil the eligibility criteria under the Securities and Exchange Board of India (Foreign Venture Capital Investor) Regulations, 2000 and we are eligible to register as a FVCI. Place: ------------------------------ Date: ------------------------- For and on behalf of applicant (Name of the applicant) Signature of Authorized Signatory Name of signatory Designation Date Dd/mm/yyyy ANNEXURE TO APPLICATION FORM A: Declaration & Undertaking: 1. We have read and understood the extant Indian laws, rules, regulations including Securities and Exchange Board of India (Foreign Venture Capital Investors) Regulations, 2000, Foreign Exchange Management Act, 1999 (Act No. 42 of 1999) and rules & regulations made thereunder, Depository and Depository Participants Regulations, circulars, guidelines issued therein and shall in relation to our activities as FVCI, at all times, comply with and subject ourselves to any other terms and conditions specified by the Board, R....
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....oup companies do not have any branch office or representative office in India 3. Does FVCI wish KRAs to seek consent prior to permitting any intermediary to download their KYC information? Yes/No If Yes, please provide below information Name of authorized representative of FVCI (optional) Email id 1 (Mandatory) : Email id 2 (Optional) : Email id 3 (Optional) : Mobile number (optional): 4. Information in respect of Authorized signatories to Form/ senior management of FVCI applicant Sr. No. Name Relations hip with Applicant (i.e. promoters, directors, Signatory etc.) PAN (if applicable) Nationality /Country of Residence Date of Birth (DD/MM/Y YYY Residential/ Registered Address Any Government issued identity document number (example driving license) (1) (2) (3) (4) (5) ....
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.... "Act"), read with the regulations made thereunder the Board hereby grants a certificate of registration to _________________________________ as a foreign venture capital investor, subject to the conditions specified in the Act and in the regulations made thereunder. II. The Registration Number for the foreign venture capital investor is .../.../.../.../.... III. The address of the foreign venture capital investor is __________________ IV. This certificate shall be valid till it is suspended, cancelled or surrendered in accordance with the Securities and Exchange Board of India (Foreign Venture Capital Investors) Regulations, 2000. Date: Place: By Order Signature Name and Designation of the Authorized Signatory of Designated depository participant Issued on behalf of Securities and Exchange Board of India SECOND SCHEDULE PAYMENT OF FEES APPLICABLE TO FOREIGN VENTURE CAPITAL INVESTOR [See regulation 3(3), regulation 7(3) and regulation 9] Registration Fee (1) Foreign venture capital investor shall pay registration fees of $2500 or any....