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Exchange Control Manual


Non-repatriation Undertaking
Date : Jun 01, 2005
10
     

Purchase of Shares of Indian Companies by Private Arrangement

     

10C.8

NRIs/OCBs require permission of Reserve Bank for purchasing shares of Indian companies by

private arrangement. For this purpose, application in form FNC 7 together with the non-repatriation undertaking in form NRU may be submitted by the non-resident investor to the office of the Reserve Bank in whose jurisdiction the company's Head/Registered Office is situated.
     

Investment in Domestic Public Sector

and Private Sector Mutual Funds

     

10C.9

NRIs/OCBs will be permitted to invest in Mutual Funds floated by domestic public sector and

private sector mutual funds on non-repatriation basis. Applications for the purpose should be made to Reserve Bank in form ISD by the concerned bank/institution. The non-resident investors do not need separate approval from Reserve Bank for the purpose.

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