MANU/SIPM/0017/2021
Ministry : Securities and Exchange Board of India
Department/Board : Division of Foreign Portfolio Investors and Custodians
Circular No. : SEBI/HO/FPI&C/P/CIR/2021/656
Date : 08.11.2021
Notification/ Circulars Referred : Circular number IMD/FPI&C/CIR/P/2019/124 dated November 05, 2019 MANU/SFII/0002/2019;Circular number SEBI/HO/IMD/FPI&C/CIR/P/2020/177 dated September 21, 2020 MANU/SFII/0004/2020
Citing Reference:
Circular number IMD/FPI&C/CIR/P/2019/124 dated November 05, 2019 MANU/SFII/0002/2019 Referred
Circular number SEBI/HO/IMD/FPI&C/CIR/P/2020/177 dated September 21, 2020 MANU/SFII/0004/2020 Referred
To,
1. Foreign Portfolio Investors ("FPIs")
2. Designated Depository Participants ("DDPs") and Custodians
3. All Recognized Stock Exchanges/ Clearing Corporations
4. All recognized Stock Exchanges and Clearing Corporations in International Financial Services Centres
5. The Depositories (NSDL and CDSL)
Dear Sir / Madam,
Write-off of debt securities held by FPIs who intend to surrender their registration
1. 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.
2. In view of the requests received from various stake holders, it has now been decided to permit the FPIs to 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.
3. Para 17 of Part C of the aforementioned circular dated November 05, 2019 stands modified to the extent of the provisions of this circular.