Posted Under Kolkata Properties, Home Buying Tips, Real Estate Rules & Regulations On 20 May, 2020
The Banks and custodians got the strict directions from Sebi (The Securities and Exchange Board of India) to alert about the changes made in beneficial ownership of foreign portfolio investment which are linked which China. The directives of Sebi are for the regulatory of capital market and New Delhi which
gripped their pose of investment from China and neighbouring countries and they are focusing on the ownership of offshore investors. Until and unless there is a problem Sebi does not ask for the data from custodians. But currently, SEBI seeks for the information to see the changes made in beneficial ownership focusing on the foreign investment linked with China under certain jurisdiction. Recently, Sebi found EPIs of beneficial ownership of 11 countries including North Korea, Afghanistan, Myanmar, Iran, Mongolia, Nepal, Bhutan, Pakistan, Bangladesh, Taiwan and Yemen are linked with China both politically and economically. The foreign investors need to put 25% to get registered under Sebi EPI investors. Sebi wants to signifies the beneficial ownership funds are directly or indirectly linked with China or not and even if linked then the large set 9f investors are going below the limits by foot holding other FPIs or not. Recently, the revised directives of Sebi allowed the custodians to check the licensed and KYC of FPIs registering themselves. “ the changes in directives of beneficial ownership of FPIs can make a cash inflow in the Indian economy but maintaining certain jurisdiction and certainly following all the regulations of the SEBI. Post Covid-19 can result in effective business strategies and boost the Indian economy for recovery and transforming the ways of doing business” said Mahesh Somani Vice President-National Association of Realtors , Indian Chairman- National RERA Committee, NAR India.
By LNN (Liyaans News Network)