Press Releases

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Date : Nov 13, 2013
Monitoring of Foreign Investment by NRIs/PIOs under PIS - Incorporation in Ban List : M/s Carnation Industries Limited

The Reserve Bank of India has today notified that the aggregate net purchases of equity shares in M/s Carnation Industries Limited by Non-Resident Indians (NRIs)/Persons of Indian Origin (PIOs) in the primary/secondary markets under Portfolio Investment Scheme (PIS) have reached the trigger limit. Accordingly, no further purchases of this company would be allowed through stock exchanges on behalf of Non-Resident Indians (NRIs)/Persons of Indian Origin (PIOs). The above company has been included in the Ban List of the Reserve Bank of India.

Ajit Prasad
Assistant General Manager

Press Release : 2013-2014/986


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