MANU/SIPM/0003/2021
Ministry : Securities and Exchange Board of India
Department/Board : Investment Management Department
Circular No. : SEBI/HO/IMD/FPI&C/CIR/P/2021/045
Date : 30.03.2021
Notification/ Circulars Referred : Circular No. IMD/FPI&C/CIR/P/2019/124 dated November 05, 2019 MANU/SFII/0002/2019
Citing Reference:
Circular No. IMD/FPI&C/CIR/P/2019/124 dated November 05, 2019 MANU/SFII/0002/2019 Referred
To
1. Foreign Portfolio Investors ("FPIs")
2. Designated Depository Participants ("DDPs") and Custodians
3. The Depositories (NSDL and CDSL)
4. The Recognized Stock Exchanges(Exchanges) and Clearing Corporations
Dear Sir/Madam,
Guidelines pertaining to surrender of FPI registration
1. In terms of SEBI (Foreign Portfolio Investors) Regulations, 2019, any FPI ('applicant') desirous of surrendering the certificate of registration may request for such surrender to the DDP.
2. Operational Guidelines for FPIs and DDPs issued vide SEBI circular No. IMD/FPI&C/CIR/P/2019/124 dated November 05, 2019 prescribes the procedural requirements to be followed by the DDP for processing such requests.
3. In order to have a uniform market practice for processing of such surrender requests, DDPs shall adhere to the following additional guidelines:
a) While making an application to SEBI for seeking "No Objection Certificate" (NOC) for surrender, the DDP shall confirm the following with respect to the FPI:
i) Accounts held by the applicant in the capacity of FPI have NIL balance and are blocked for further transactions. Further, the CP code of the FPI is also blocked.