All Authorized Dealers
In Foreign Exchange,

Dear Sirs,

ISSUE AND TRANSFER OF SECURITIES IN FAVOUR OF NON-RESIDENTS

Attention of Authorized Dealers is invited to the instructions contained in Paragraphs 6 and 7, Chapter-XX of the Foreign Exchange Manual as revised vide F.E. Circulars No. 84, 104 and 122 of 1991.

2. It is clarified that the power generation companies, energy related infrastructure project companies and companies established to set up Software Technology Parks i.e.; technology centers for developing the computer software packages/programmes, are being treated as manufacturing concerns for the purpose of issue/transfer and export of shares as per Paragraph 6 (a) and 7, Chapter-XX of the Foreign Exchange Manual.