 "sebi")
The Securities and Exchange Board of India has not been giving permission to foreign portfolio investors (FPIs) to transfer assets through a provision which was previously in common use.
An FPI could earlier transfer assets between its arms, in the wake of a merger of schemes or similar reorganisation, through an application to the markets regulator. This ‘free of cost’ transfer was allowed if end-beneficiaries were the same in both entities.
Such permissions have, however, been hard to come by in the past 12-18 months, say three people who are familiar with the matter. This has happened due to concerns that
