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Business Standard

Finance Bill amendment eases Mauritius funds' path for India shift

Experts reckon up to 10 per cent of such funds could shift to the IFSC

Topics
Finance Bill | IFSC | GIFT City

Ashley Coutinho  |  Mumbai 



investors, investment, funds, FPI, FDI, market
Further, the Bill permits transferring securities not only from the offshore fund but also from the wholly-owned SPVs of the funds | Illustration: Binay Sinha

An amendment to the has allowed a wholly-owned special purpose vehicle (SPV) of an offshore fund to transfer securities to an International Financial Services Centre (IFSC) fund in Gujarat, while also enabling the fund to issue units either to investors in the offshore fund or to the offshore fund itself.

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First Published: Fri, March 26 2021. 06:10 IST

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