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Tuesday, November 19, 2013

NOC from respective financial sector regulator NOT required for transfer of shares from Residents to Non-Residents

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Now onwards No Objection Certificate (NOC) is NOT required to be obtained from the respective financial sector regulator/regulators of the investee company as well as transferor and transferee entities in case of transfer of shares from Residents to Non-Residents where the investee company is in the financial services sector.
Such NOC(s) were used to be filed with the form FC-TRS to the AD bank ontransfer of such shares.

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