a) SEBI vide circular SEBI/HO/IMD/FPI&C/CIR/P/2020/177 dated September 21, 2020 has issued procedure to Write-off of shares held by FPIs.
b) Write-off of securities held by FPIs who wish to surrender their registration was permitted only in respect of shares of companies which are unlisted/illiquid/suspended/delisted. However, in view of the requests received from various stake holders, it has been decided to permit said FPIs to write-off shares of all companies which they are unable to sell. In this regard, the process detailed at para 17 of Part C of the said Operational Guidelines shall be complied with.
c) This circular is issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992.
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