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Power of AO to Grant Stay — Whether Discretionary or Controlled By the Instructions and Circulars
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March 2014

A. P. (DIR Series) Circular No. 104 dated 14th February, 2014

By Gaurang Gandhi Chartered Accountant

Reading Time 1 mins

Foreign investment in India by SEBI registered FII, QFI and long term investors in Corporate Debt

This circular states that the sub-limit for investment in Commercial Paper by FII, QFI & other long-term investors is reduced from US $3.50 billion to US $2 billion with immediate effect. However, there is no change in the total Corporate debt limit which will continue to be US $51 billion.

The revised position, subject to operational guidelines to be issued by SEBI, is as under: –

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March 2014

A. P. (DIR Series) Circular No. 104 dated 14th February, 2014

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A. P. (DIR Series) Circular No. 103 dated 14th February, 2014

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March 2014

A. P. (DIR Series) Circular No. 104 dated 14th February, 2014

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A. P. (DIR Series) Circular No. 103 dated 14th February, 2014

A. P. (DIR Series) Circular No. 105 dated 17th February, 2014