They are also seeking the governments push to enable REIT and InvITs debt raising from insurance companies and foreign portfolio investors (FPIs). Despite the Finance Ministrys approval in Union Budget 2019 for the debt funding, these entities are still not able to get access to liquidity through this channel.
HDFC Bank announced that the Securities & Exchange Board of India
(SEBI), vide its Final Order dated 21 January 2021 (the Order), has levied a monetary penalty of Rupees One Crore payable by the Bank in terms of Section 15HB of the SEBI Act, in the matter of M/s.
BRH Wealth Kreators , for non]compliance with the Interim Order issued by SEBI concerning the said matter.
Further, the Bank has been directed vide the Order to transfer an amount of Rs. 158.68 crore along with interest from 14 October 2019 till date, calculated at the rate of 7% p.a. to an interest bearing Escrow Account in any nationalized bank, by marking a lien in favour of SEBI, until the issue of settlement of clientsf securities (clients of the stockbroker) is
Global private banks ask FPI managers not to sell NRI clients’ investments
Besides, an NRI controlled investment manager (or the asset management company) running an FPI must register itself as a ‘non-investing FPI’ with Sebi.
Synopsis
FPIs have to bring down the aggregate contribution of NRIs and OCIs (along with resident Indians) in a fund to below 50% by December 31, 2020. Also, contribution by an NRI/OCI cannot exceed 25%. Funds which fail to do this will have to wind up in six months.
MUMBAI: Global private banks, dealing with the rich and ultrarich, have told managers of foreign portfolio investors (FPIs) to refrain from selling off investments by their non-resident Indian (NRI) and overseas citizens of Indian (OCI) clients to meet the rules laid down by Securities & Exchange Board of India (Sebi).