Search Result for : P Notes

The Dollar Business Bureau The government have to come out with an explanation that GAAR (General Anti-Avoidance Rules) would not be applicable to a Foreign Portfolio Investor (FPI) on maturity and redemption of the Participatory Notes (P-Notes), in order to gain confidence of the foreign investors and motivate them to keep their interest in the stock market of India, ASSOCHAM said in a memorandum submitted to the Ministry of Finance. In the memorandum, the trade body detailed that it is usual for investors to gain economic exposure in the country’s securities via P-Notes. On the maturity and redemption of these instruments, the underlying Indian securities citing the P-Notes may or may not be traded by the FPI. “While the concerned rules governing the ...

Source: PTI Seeking to calm panic-stricken investors, Finance Minister Arun Jaitley today said they need not fear any "knee-jerk" reaction from the government on the SIT report, which had recommended tough measures to check investment flows through P-Notes. He also assured investors that the government will not take any action that may jeopardise investment climate even as the benchmark BSE Sensex tanked close to 500 points on fears of action on the suggestions of the Supreme Court appointed Special Investigation Team (SIT). Participatory Notes (P-Notes) are used by large number of foreign investors to invest in equity markets without disclosing their identity to the market regulator Sebi. "It is too early to say what view the government would take. But the ...