Write-off of debt securities held by FPIs who intend to surrender their registration
- SEBI, vide circular number IMD/FPI&C/CIR/P/2019/124 dated November 05, 2019, read with circular number SEBI/HO/IMD/FPI&C/CIR/P/2020/177 dated September 21, 2020, has permitted FPIs who wish to surrender their registration to write-off all shares in their beneficiary account which they are unable to sell for any reason.
- In view of the requests received from various stake holders, it has now been decided to permit the FPIsto also write-off all debt securities in their beneficiary account which they are unable to sell for any reason.This shall be applicable only to such FPIs who wish to surrender their registration.
- Para 17 of Part C of the aforementioned circular dated November 05, 2019 stands modified to the extent of the provisions of this circular.
- This circular is issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992.
- Custodians are requested to bring the contents of this circular to the notice of their FPI clients.
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