I, hereby, confirm and declare the below about this Outward remittance transaction-
- The remittance is towards overseas portfolio investment (OPI) in listed foreign security (other than Overseas Direct Investment - ODI) or in units of investment fund overseas (including sponsor contribution), duly regulated by the regulator for the financial sector in the host jurisdiction
- The OPI is not being made in unlisted debt instruments, security which is issued by a person resident in India who is not in an IFSC, derivatives not permitted by RBI and commodities including Bullion Depository Receipts (BDRs).
- The investment does not fall under the category of Overseas Direct Investment requiring ODI reporting to RBI. Further, with regards to this transaction, I/ We confirm following:
- The investment is not for acquisition of unlisted equity capital
- I have not subscribed and am not subscribing to the Memorandum of Association of above-named investee company/ entity.
- Investment is less than 10% of the paid-up equity capital of above-named listed foreign entity
- Investment along with pervious investment (if any) shall not entail in gaining control of above named listed foreign entity.
- This remittance is not related to any transaction or any investments in Virtual Currencies
Further, I/ we undertake as under:
- The received/realized/unspent/unused foreign exchange, unless reinvested, shall be repatriated and surrendered to an authorized person within a period of 180 days from the date of such receipt/ realization/ purchase/ acquisition.
- Shall ensure adherence to requirement (incl. of reporting) emanating from Overseas Investment Regulation, Rules and Directions.
- The source of the fund for remittance made towards capital account transactions are not out of borrowed funds.
