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.