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Tighter Mauritius scrutiny brings new worries for FPIs

Tighter Mauritius scrutiny brings new worries for FPIs
Tighter Mauritius scrutiny brings new worries for FPIs
There are several NRIs who hold nominal investments in the fund but manage the fund.

Synopsis

In 2018, the Securities and Exchange Board of India (Sebi) barred NRIs from being in control of a foreign portfolio investor (FPI) and gave the industry time until December 31, 2020 to comply with the new norms.

Mumbai: Several Mauritius-based funds managed by non-resident Indians (NRIs) are a worried lot as heightened scrutiny of such investment vehicles by the island nation’s securities regulator has raised concerns whether they would be able to comply with the new overseas investors norms in India before the year-end deadline. Lawyers and consultants handling the compliance matters of these investors said Financial Services Commission (FSC), the
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