Mumbai: The Securities and Exchange Board of India has proposed to provide flexibility to foreign portfolio investors (FPIs), whose registrations have expired, to sell their securities. Sebi data shows, as of June 30, 2023, there were 55 such entities holding securities valued at about ₹3,300 crore in their demat accounts.
Rules require FPIs to have a valid registration as long as they hold securities in India.
However, current FPI rules do not provide for regularisation of FPI registration or liquidation of securities post expiry of their registration and the securities held by such FPI remain frozen in their demat accounts.
Further, there are no regulatory prescriptions for dealing with securities that remain in the demat accounts of FPIs, post expiry of registration and for securities written- off by FPIs.
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