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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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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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Sep 30, 2021

Amendments to FPI Regulations

SEBI has on August 3, 2021 amended the SEBI (Foreign Portfolio Investor) Regulations, 2019, to provide that non-resident Indians and overseas citizens of India and resident Indian individuals may be constituents of the applicant seeking registration as a foreign portfolio investor (‘FPI’) if they fulfill the conditions specified by SEBI. Further, resident Indians (other than an individual) may also be constituents of an applicant seeking registration as an FPI, if: (a) such resident Indian (other than an individual) is an eligible fund manager of the applicant; and (b) the applicant is an eligible investment fund. Subsequently, SEBI has, by a Circular dated August 4, 2021, amended the ‘Operational Guidelines for Foreign Portfolio Investors and Designated Depository Participants’ issued under Circular dated November 5, 2019, to state that the contribution of resident Indian individuals will be required to be made through the liberalised remittance scheme notified by the Reserve Bank of India (‘RBI’) and such contribution will be in global funds whose Indian exposure is less than 50%.

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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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