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This is the crux of who we are. It is an articulation of precision in purpose, from the Firm’s beginnings to where we are today. Our collective eye is unerringly trained on tomorrow.

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Our insistence on strategic advisory exacts an in-depth understanding of and involvement with our clients’ businesses and industries. We engage not just individual businesses, but also contribute to the country’s legal and regulatory frameworks.

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We commit early. We pull together internally for greater support. Every effort is sincere, every individual deeply dedicated to their task, their role, to the Firm.

Our undertakings for long-term impact are an organic extension of our purpose.

They are to employ our deep knowledge of the law beyond the business, the transaction, the deal. To use the opportunities and skills we possess, to reflect on the culture we’re creating. Individually and collectively, these are our efforts to help shape the thinking of our future generations, and arm them with strategies for true, sustainable growth.

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This is a repository of thought leadership, deep insights and strong viewpoints, legal and other news and events and how they impact the industry and our clients.

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Amplifying intrinsic talent, sharpening skills, expanding knowledge, is vital to leading. It defines every aspect of how our firm functions and transacts. This is how we create new benchmarks and set industry standards.

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Oct 30, 2024

Amendments to FEMA Debt Instruments Regulations

The RBI has notified the Foreign Exchange Management (Debt Instruments) (Third Amendment) Regulations, 2024 on August 2, 2024, which has amended the Foreign Exchange Management (Debt Instruments) Rules, 2019 (‘Principal Regulations’) to include provisions pertaining to SGB. Set out below are the amendments made to the Principal Regulations:

i.    persons resident outside India that have a securities account with a depository in IFSC in India can purchase or sell SGBs issued by the Government, in accordance with the terms and conditions specified by the RBI from time to time;

ii.   in relation to the mode of payment for SGBs, the consideration for purchase of SGBs will be paid out of inward remittance from abroad through funds held in a foreign currency account maintained in accordance with the regulations issued by the RBI and the IFSC; and

iii.  in relation to remittance of sale proceeds of SGBs, it has been clarified that the proceeds may be remitted outside India, net of taxes.

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DISCLAIMER

These are the views and opinions of the author(s) and do not necessarily reflect the views of the Firm. This article is intended for general information only and does not constitute legal or other advice and you acknowledge that there is no relationship (implied, legal or fiduciary) between you and the author/AZB. AZB does not claim that the article's content or information is accurate, correct or complete, and disclaims all liability for any loss or damage caused through error or omission.

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