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Date : Jan 06, 2016
FIIs/RFPIs and NRIs can now invest up to 100 per cent and 24 per cent respectively under PIS in M/s Transwarranty Finance Limited – Removal from the caution list

The Reserve Bank of India has today notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) and Non Resident Indians (NRIs) can now invest up to 100 per cent and 24 per cent respectively of the paid up capital of M/s Transwarranty Finance Limited under the Portfolio Investment Scheme (PIS).

The Reserve Bank further advised that the foreign shareholding by NRIs in M/s Transwarranty Finance Limited have gone below the revised threshold limit. Hence, the restrictions placed on the purchase of shares of the above company are withdrawn with immediate effect.

The Reserve Bank has stated that the company has passed resolutions at its Board of Directors’ level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares by FIIs/RFPIs and NRIs. The purchases could be made through primary market and stock exchanges and would be subject to Regulation 5(2) of FEMA Notification No.20/2000-RB dated May 03, 2000 (as amended from time to time) and other terms and conditions stipulated by the Reserve Bank.

The Reserve Bank has notified this under FEMA 1999.

Ajit Prasad
Assistant General Manager

Press Release: 2015-2016/1588