What is the quantum limit for investing under Portfolio Investment Scheme ?
The following rules govern the quantum limits: • Investment made by a single NRI, OCB can be upto 5% of the paid up capital of the company. • The aggregate limit for all NRIs, OCB investment through secondary market is upto 10% of the paid up equity capital. • The aggregate investment by all NRIs, OCBs and FIIs through stock exchanges can be upto the enhanced limit of 24%/30% (subject to the General Body Resolution of the company) would continue to be operative. Q5) Is Registration of shares/securities compulsory if NRIs/OCBs buy under Portfolio Investment Scheme ? A)Registration of shares and securities is not compulsory when the NRIs and OCBs buy under PIS and pay through the NRE account or Inward remittance source. However, for seeking repatriation of the funds invested, they must take the delivery of the scrips through the stock exchange and also give delivery of scrips while selling. In these cases, short selling is not permitted. Q6) Can one NRI transfer shares/securities to anot
