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<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd"> <html xmlns="http://www.w3.org/1999/xhtml"> <head> </head> <body> <div style="font-family:Verdana, Geneva, sans-serif; font-size:12px; text-align:justify"> <table width="800" border="0" style="border:1px solid #ccc;padding:5px;" align="center" cellpadding="6" cellspacing="0"> <tr> <td align="left" valign="top"> <br /> Securities and Exchange Board of India <br /><br /> Guidelines pertaining to surrender of FPI registration<br /><br /> MANU/SIPM/0003/2021 - (30 Mar 2021)<br /><br /> </td> </tr> <tr> <td align="left" valign="top"></td> </tr> <tr> <td align="left" valign="top" style="background-color:#FDEDCE"><strong>1. In terms of SEBI (Foreign Portfolio Investors) Regulations, 2019, any FPI ('applicant') desirous of surrendering the certificate of registration may request for such surrender to the DDP. <br><br> 2. Operational Guidelines for FPIs and DDPs issued vide SEBI circular No. IMD/FPI&C/CIR/P/2019/124 dated November 05, 2019 prescribes the procedural requirements to be followed by the DDP for processing such requests. <br><br> 3. In order to have a uniform market practice for processing of such surrender requests, DDPs shall adhere to the following additional guidelines: <br><br> a) While making an application to SEBI for seeking "No Objection Certificate" (NOC) for surrender, the DDP shall confirm the following with respect to the FPI: <br><br> i) Accounts held by the applicant in the capacity of FPI have NIL balance and are blocked for further transactions. Further, the CP code of the FPI is also blocked. <br><br> ii) There are no dues/fees pending towards SEBI. <br><br> iii) There are no actions/proceedings pending against the said applicant. <br><br> b) DDP shall ensure that: <br><br> i) all the accounts (including bank account and securities account) held by the applicant in the capacity of FPI are closed; and<br><br> ii) the CP code is deactivated<br><br> within 10 working days from the date of receipt of NOC from SEBI. <br><br> 4. This circular shall come into force with immediate effect. <br><br> 5. Custodians and DDPs are advised to bring the provisions of this circular to the notice of their clients. <br><br> 6. This circular is issued in exercise of the powers conferred by Section 11(1) of Securities and Exchange Board of India Act, 1992. <br><br> 7. A copy of this circular is available at the web page "Circulars" on our website.</strong></td> </tr> <tr> <td align="left" valign="top" ><strong></strong></td> </tr> <tr> <td align="left" valign="top" ><strong>Tags : Guidelines, Surrender, FPI registration</strong></td> </tr> <tr> <td align="left" valign="top"> </td> </tr> <tr> <!--<td><strong>Source : <a target="_new" href="http://www.manupatrafast.com/">newsroom.manupatra.com</a></strong></td>--> <td align="left" valign="top"><strong>Source : newsroom.manupatra.com</strong></td> </tr> <tr> <td align="left" valign="top"> </td> </tr> <tr> <td align="left" valign="top">Regards</td> </tr> <tr> <td align="left" valign="top">Team Manupatra</td> </tr> <tr> <td align="left" valign="top"> </td> </tr> </table> </div> </body> </html>