Supreme Court: Expecting a Minor to Respond to a Public Court Notice is ‘Perverse’  ||  SC: Order 23 Rule 1 CPC Applies to S. 11 Arbitration Act, Barring Fresh Arbiration After Abandonment  ||  SC: Later Sanction Requirement Won’t Invalidate Cognizance Taken When No Prior Bar Existed  ||  SC: Documents Not Admitted by an Employee in an Enquiry Must be Proved Through Witnesses  ||  Delhi HC: MHA Has Authority to Initiate Disciplinary Proceedings Against AGMUT IAS Officers  ||  MP HC: Financial Hardship or Mere Allegations of Lawyer’s Negligence Cannot Excuse Delayed Appeal  ||  Patna HC: Blanket Approach of Denying Public Employment to Individuals Named in an FIR is Unfair  ||  Kerala HC: Repeated Possession of Even Small Quantities of Narcotic Drugs Can Invoke KAAPA  ||  Calcutta HC: Employers May Deduct Penal Rent From Gratuity of Employees Refusing to Vacate Quarters  ||  Calcutta High Court: ECI Not Singling Out Bengal, More Transfers in Other Poll-Bound States    

Modification in operational guidelines for FPIs and DDPs pursuant to amendment in SEBI (Foreign Portfolio Investors) Regulations, 2019- (Securities and Exchange Board of India) (04 Aug 2021)

MANU/SIPM/0012/2021

Capital Market

1. Section 9A of the Income Tax Act, 1961 (IT Act) was introduced by the Finance Act 2015 and subsequently amended vide Finance Act 2020 to facilitate setting up of fund management activity in India with respect to offshore funds.

2. In order to enable Resident Indian fund managers to benefit from the provisions of Section 9A, clause (c) of Regulation 4 of the SEBI (Foreign Portfolio Investors) Regulations, 2019, has been amended vide Gazette Notification No. SEBI.LAD-NRO/GN/2021/32 dated August 03, 2021.

3. For operationalizing the aforementioned amendment to the SEBI (Foreign Portfolio Investors) Regulations, 2019, the Explanation provided under Para 2 (ii) (b) of Part A of the Operational Guidelines for FPIs and DDPs, issued vide circular dated November 05, 2019, stands modified as below:

"Explanation: The contribution of resident Indian individuals shall be made through the Liberalised Remittance Scheme (LRS) notified by Reserve Bank of India and shall be in global funds whose Indian exposure is less than 50%."

4. DDPs and Custodians are requested to bring the contents of this circular to the notice of their clients.

5. This circular is issued in exercise of the powers conferred by Section 11(1) of Securities and Exchange Board of India Act, 1992.

Tags : MODIFICATION   OPERATIONAL GUIDELINES   FPIS   DDPS  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved