Resident Indian Fund Managers to be Constituents of FPIs

The Finance Act 2020 amended Section 9A of the Income Tax Act, 1961, enabling resident Indian fund managers, beyond individuals, to be constituents of Foreign Portfolio Investors (FPIs). This amendment, along with amendments to SEBI regulations, aims to encourage Indian fund managers to contribute seed capital to offshore investment funds, fostering new business opportunities.

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W.P - C No. 162 of 2023 Vishal Tiwari Vs. Union of India and Ors. with W.P Crl No 39, 57 and 201 of 2023 - Supreme Court Judgement dated January 03, 2024

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SLP - C No. 16019 - 16020 of 2023: Binny Ltd and Ors. Vs. SEBI and Anr. - Supreme Court Judgement dated August 04, 2023

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Civil Appeal Nos. 435 of 2007 CA 5076 of 2007 and CA NO. 3003 of 2011: SEBI Vs. NSE Members Association - Supreme Court Judgement dated October 13, 2022

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