Legal UpdatesSecurity Laws

SEBI permits FPIs to write- off shares of all the companies which are not selling

SEBI Updates

On 21 September,2020 SEBI have permitted FPIs to write – off shares of all companies which they are unable to sell as per the process mentioned in Para 17 of Part C of the said Operational  Guidelines. 

As per the Operational  Guidelines issued on November  05,  2019 Operational  Guidelines  for  FPIs  and DDPs  under  SEBI  (Foreign Portfolio Investors), Regulations 2019 (circular number IMD/FPI&C/CIR/P/2019/124  dated  November  05,  2019) write -off  of  securities  held  by  FPIs who  wish  to surrender  their  registration was  permitted  only  in  respect  of shares  of  companies which  are unlisted/ illiquid /suspended /delisted. 

Below is the link of the Operational  Guidelines issued on November  05,  2019

https://www.sebi.gov.in/sebi_data/commondocs/nov-2019/Operational%20Guidelines%20for%20FPIs,%20DDPs%20and%20EFIs%20revised_p.pdf

 

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