Procedure for reclassification of FPI investment to FDI

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....xchanges and Clearing Corporations Dear Sir / Madam, Subject: Procedure for reclassification of FPI investment to FDI 1. Regulations 20(7) and 22(3) of the SEBI (Foreign Portfolio Investors) Regulations, 2019 provide that in case a foreign portfolio investor fails to divest its holdings (in excess of the prescribed threshold), within five trading days, the entire investment in the company....

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....as Foreign Direct Investment (FDI), it shall follow extant FEMA Rules and circulars issued thereunder in this regard. ii. Pursuant to receipt of such intent from the FPI, the respective Custodian shall report the same to the Board and freeze purchase transactions by such FPI in equity instruments of such Indian company, till completion of the reclassification. iii. On receipt of ....