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Corporate Laws Central Ministry of Finance Foreign Exchange Management Act, 1999

Foreign Exchange Management (Non-debt Instruments) Amendment Rules, 2024

24-Jan-2024 | S.O. 332(E)

Ministry of Finance has issued e Foreign Exchange Management (Nondebt Instruments) Amendment Rules, 2024 to further amend Foreign Exchange Management (Non-debt Instruments) Rules, 2019.

By virtue of this notification following has been inserted-

1. In the principal rules, after Chapter IX, the following Chapter shall be inserted as Chapter X - Investment by permissible holder in equity shares of public companies incorporated in India and listed on International Exchange.

In this chapter a permissible holder may purchase or sell equity shares of a public Indian company which is listed or to be listed on an International Exchange under Direct Listing of Equity Shares of Companies Incorporated in India on International Exchanges Scheme as specified in Schedule XI

2. In the principal rules, after the Schedule X, the following Schedule shall be inserted as Schedule XI-

Direct Listing of Equity Shares of Companies Incorporated in India on International Exchanges Scheme. Following has been specified under this Chapter-

a. Issue and Listing on International Exchanges
b. Permissible holder
c. Eligibility
d. Obligations of companies
e. Voting rights
f. Pricing

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