Investment by NRIs / OCBs / PIOs in shares of Indian companies - RBI - Reserve Bank of India
Investment by NRIs / OCBs / PIOs in shares of Indian companies
The Reserve Bank of India on July 13, 2001 has notified that no further purchases of shares of M/s IDL Industries Ltd. should be made on behalf of non-resident Indians (NRIs) / overseas corporate bodies (OCBs) and persons of Indian Origin (PIOs) without obtaining prior clearance of the Reserve Bank. The Reserve Bank has stated that the net purchases of equity shares of the company in the secondary markets have reached the limit of eight per cent of its paid up equity capital.
P.V. Sadanandan
Asst. Manager
Press Release : 2001-02/56
Monitoring of Investments in Companies
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