INDIA: Extension of Deadline for Submission of Common Beneficial Owners of India FIIs

Friday June 1 2012

Further to the update on 9 May, 2012, it has been reported that the Securities and Exchange Board of India (SEBI) has extended the deadline for submissions of information in order to ascertain India Foreign Institutional Investor (FII) groups having common ultimate/ end beneficial ownership with all current registered FII or sub accounts; or who are in the process of registration from May 31, 2012 to July 31, 2012. Any India FIIs who submit the required information after May 31, 2012, must state the reasons for the late submission.

India FIIs should consider all such entities having direct or indirect common shareholding/ beneficial ownership/ beneficial interest of more than 50 per cent, as a part of their group.

This information will be updated as more details become available