non-disposal-undertakings

FPIs prohibited from executing Non-Disposal Undertakings

On March 14, 2018, SEBI issued an informal guidance to UBS AG (“Applicant”), a SEBI registered FPI, clarifying the position on whether non-disposal undertakings (“NDU’s”) constitute an ‘encumbrance’ under the SEBI (Foreign Portfolio Investors) Regulations, 2014 (“FPI Regulations”). Regulation 32(2)(d) of the FPI Regulations imposes an obligation on the designated depository participant engaged by an…

© Finsec Law Advisors | 2018
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