 "Photo: Shutterstock")
The Securities and Exchange Board of India (Sebi), and the Reserve Bank of India (RBI), have issued a circular on changes in the monitoring of foreign investment holdings in listed companies.
This was triggered by a breach in the rule on foreign shareholding at HDFC Bank a year before.
Under the new framework, companies will have to appoint a depository for monitoring of foreign shareholding, including foreign portfolio investors (FPIs) and non-resident Indians. In a breach, foreign investors will be required to divest the excess quantity by selling these to domestic investors within five trading days of the date of
