Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
Latest Circulars »
Open DEMAT Account in 24 hrs
 Designation of 3 individuals as Terrorists under Section 35 (1) (a) of the Unlawful Activities (Prevention) Act (UAPA), 1967 and their listing in the Schedule IV of the Act-Reg.
 Auction of Government of India Dated Securities Jan 23, 2023
 RBI extends time for renewal of agreements for existing Safe Deposit Locker/Safe Custody Article Facility Provided by Banks
  Designation of two individuals and one organisation under Section 35(1) (a) and 2(1) (m) of the Unlawful Activities (Prevention) Act,1967 and their listing in the First and Fourth Schedule of the Act
 Implementation of Section 51A of UAPA, 1967 Updates to UNSCs 1267/ 1989 ISIL (Daesh) & Al-Qaida Sanctions List: Addition of 1 entry
 Implementation of Section 51A of UAPA, 1967: Updates to UNSCs 1267/ 1989 ISIL (Daesh) & Al-Qaida Sanctions List: Addition of 1 entry
 Designation of two individuals and one organisation under Section 35(1) (a) and 2(1) (m) of the Unlawful Activities (Prevention) Act,1967 and their listing in the First and Fourth Schedule of the Act
 Master Direction Reserve Bank of India (Acquisition and Holding of Shares or Voting Rights in Banking Companies) Directions, 2023
 Guidelines on Acquisition and Holding of Shares or Voting Rights in Banking Companies
 RBI Working Paper No. 01/2023: Measuring Contagion Effects of Crude Oil Prices on Sectoral Stock Price Indices in India
  Conversion/Switch of Government of India Securities

FIIs/RFPIs can now invest up to 35 per cent under PIS in M/s Pennar Industries Limited Removal from the Caution List
November, 20th 2014

The Reserve Bank of India has today notified that the foreign share holding by Foreign institutional investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) in M/s Pennar Industries Limited has gone below the revised threshold limit stipulated under the extant FDI Policy. Hence, the restrictions placed on the purchase of shares of the above company are withdrawn with immediate effect.

The RBI further advised that FIIs/RFPIs can now invest up to 35 per cent of the paid up capital of M/s Pennar Industries Limited under the Portfolio Investment Scheme.

The Reserve Bank has stated that the company has passed resolutions at its Board of Directors’ level and a special resolution by the shareholders, agreeing for enhancing the limit from 24 per cent to 35 per cent for the purchase of its equity shares and convertible debentures by FIIs. The purchases could be made through primary market and through stock exchanges and would be subject to Regulation 5(2) of FEMA Notification No.20 dated May 03, 2000 (as amended from time to time) and other terms and conditions stipulated by the Reserve Bank.

The Reserve Bank has notified this under FEMA 1999.

Ajit Prasad
Assistant General Manager

Press Release: 2014-2015/1023

Home | About Us | Terms and Conditions | Contact Us
Copyright 2023 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting