The Securities and Exchange Board of India (‘SEBI’), has on April 7, 2020, amended the SEBI (FPI) Regulations, 2019 for expanding the scope of entities that are eligible to be Category I FPIs (‘Cat I FPIs’). Pursuant to this amendment, entities from any country specified by the Central Government by an order or by way of an agreement or treaty with other sovereign Governments would be permitted to register as Cat I FPIs, provided that they are: (a) appropriately regulated funds; (b) unregulated funds whose investment manager is appropriately regulated and registered as a Cat I FPI and the investment manager undertakes the responsibility of all the acts of commission or omission of such unregulated fund; or (c) university related endowments of such universities that have been in existence for more than five years. Prior to this amendment, the eligible countries under this sub-category of Cat I FPIs were limited to countries that are members of Financial Action Task Force. Shortly after, the Department of Economic Affairs, Ministry of Finance, Government of India, by its Order dated April 13, 2020, has notified Mauritius as an eligible country under the provisions of the aforesaid amendment.