SEBI tweaks eligible criteria for Foreign Portfolio Investors

SEBI has notified the SEBI (Foreign Portfolio Investors) (Amendment) Regulations, 2021. Now resident Indians other than individuals shall also be eligible to apply for registration as FPIs subject to riders viz. (i) such resident Indian, other than individuals, is an eligible fund manager of the applicant, as provided u/s 9A(4) of the Income Tax Act, 1961; and (ii) the applicant is an eligible investment fund as provided u/s 9A(3) of the IT Act, 1961 which has been approved the IT Rules, 1962.SEBI has notified the SEBI (Foreign Portfolio Investors) (Amendment) Regulations, 2021. Now resident Indians other than individuals shall also be eligible to apply for registration as FPIs subject to riders viz. (i) such resident Indian, other than individuals, is an eligible fund manager of the applicant, as provided u/s 9A(4) of the Income Tax Act, 1961; and (ii) the applicant is an eligible investment fund as provided u/s 9A(3) of the IT Act, 1961 which has been approved the IT Rules, 1962.taxmann.com Latest Statutory HappeningsRead More

Leave a Reply