INDIA: RBI Updates M/s Claris Lifesciences FII/FPI Investment Limit

Tuesday October 17 2017

On 17^th October 2017, the Reserve Bank of India has notified that Foreign Institutional Investors (FIIs)/Foreign Portfolios Investors (FPIs) investment limit under Portfolio Investment Scheme in M/s Claris Lifesciences Ltd. has increased from 24% to 49% of its paid up capital.

Further, it is notified that the NRI investment limit under Portfolio Investment Scheme in the company has increased from 10% to 24% of its paid up capital. M/s Claris Lifesciences Ltd. has passed necessary resolutions of its Board of Directors and General Body as required under the FEMA, 1999 and the regulations framed thereunder. The increase is subject to regulation 5(2),5 (2A) and 5(3) of Foreign Exchange Management (Transfer or issue of security by a person resident outside India) Regulations, 2000 dated May 03, 2000, as amended from time to time, and the onus of compliance with the limits prescribed for the company is on the company.

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