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October 2014

A. P. (DIR Series) Circular No. 22 dated 28th August, 2014

By Gaurang Gandhi Chartered Accountant
Reading Time 1 mins
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Notification No. FEMA. 313/2014-RB dated 2nd July, 2014

Purchase and sale of securities other than shares or convertible debentures of an Indian company by a person resident outside India

Presently, eligible investors registered with SEBI, can purchase eligible government securities directly from the issuer of such securities or through registered stock broker on a recognised Stock Exchange in India within the limits prescribed by RBI and SEBI from time to time.

This circular has removed the restrictions on the persons from whom eligible investors can purchase eligible government securities. As a result, eligible investors can acquire eligible government securities in any manner as per the prevalent/approved market practice.

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