The Indian Government and the Reserve Bank of India was in May 2010 moved by asset reconstruction companies to hike the foreign direct investment limit in their equity capital and the foreign institutional investment limit in security receipts (SRs) issued by the companies from 49 per cent to 74 per cent. According to the current norms the maximum foreign equity cannot exceed 49 per cent of the paid-up equity capital of an ARC. Securities and Exchange Board of India could invest up to 49 per cent of each tranche of scheme of SRs on condition that investment of a single FII would not exceed 10 per cent of the issue.
FII Limit to Move Up
By Jagranjosh
May 27, 2011, 12:38 IST
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