#ForeignInstitutionalInvestors

[seemabhatnagar]

Freezing of bank account for unconnected entities is legally untenable.

M/s Jermyn Capital LLC Dubai v. Central Bureau of Investigation

Fact:

M/s Jermyn Capital LLC Dubai (#Appellant Company) was Permitted by Securities Exchange Board of India (#SEBI) to buy & sell share & securities in the #Indian Stock Market.

The appellant company had its shares in its account with #ICICI Bank.

However, due to certain litigation the appellant company quit the trading in the Indian Market in 2006.

But appellant company was subjected to 02 #freeze orders under section 102 #Cr PC. (This section empowers police officers to seize any property which gives suspicion for commission of any offence.)

The freeze order for an amount of Rs.42.51 crore was initiated because of the #pending #investigation against Dharmesh Doshi

Against the freeze order the appellant company approached the Apex Court & the #ApexCourt allowed the appellant Company to sell its shares & convert into cash and repatriate the funds with interest but without bank guarantee.

Rs. 42.51 Crore was repatriated.

Issue arose when appellant company was incapacitated by second freeze order for an amount of Rs. 38.52 crores to repatriate.

Aggrieved by the freeze the appellant company again approached the Apex Court.

 The Apex Court gave liberty to the appellant company to approach trial court for release of the said amount.

 The trial court allowed the repatriation of Rs.38.52 Crores subject to the #Bank Guarantee of an equivalent amount.

Aggrieved by the imposition of Bank Guarantee Clause the appellant Company approached High Court.

High Court confirmed the decision of Trial Court.

Against the order of the High Court present Criminal Appeal is filed before Apex Court.

Observation of the Apex Court:

 Imposition of Bank Guarantee clause as due to pending investigation against Dharmesh Doshi, alleged to have been connected with the appellant company.

Record shows that Dharmesh Doshi has been discharged by the trial court, was never an employee/shareholder/director or holding key managerial position in the appellant company.

Dharmesh Doshi & Appellant Company are 02 separate entities.

Freezing order as such not legally tenable when two entities are unconnected.

Neither in the FIR nor in the chargesheet filed against the Dharmesh Doshi, appellant company was named.

Further during hearing CBI informed the Apex Court that no criminal proceedings is pending against the appellant company pertaining the dispute discussed here.

The freeze order against the appellant company’s properties is redundant as the appellant company is not necessary for the conclusion of the investigation.

The purpose of the freeze order, and the bank guarantee in extension of the freeze order, can only be in operation to aid in the investigation against the alleged crime.

Since the investigation against the appellant company has become redundant as such freeze order has also become redundant.

 The operation of the freeze order has been active for a period of 17 years and has caused huge losses to the appellant company.

Decision:

The Division Bench of Hon’ble Mr. Justice Krishna Murari J & Hon’ble Sanjay Kumar J vide their order dt.09.05.2023 set aside the order of the High Court and permitted the appellant company to withdraw the said amount with 4% simple interest from May08, 2006.

Seema Bhatnagar

[dtinvestments]

These are the stocks that the foreign institutional investors love. What's your pick? 🤔 Tell us in the comments and don't forget to turn on the post notifications 🔔 . . . #FII #foreigninstitutionalinvestors #nifty #stockmarketindia #stockpicks #topstocks #indianeconomy #favouritestocks https://www.instagram.com/p/Ceh7816qI3A/?igshid=NGJjMDIxMWI=

[tflguide]

Role of Foreign Institutional Investor in Indian Stock Markets

FIIs are investors or Foreign investment funds that are registered in a country and make investments in the stock and bond markets of other countries. The goal of the foreign institutional investor is to anticipate the movement of the markets in the target country and make investment decisions based on the analysis to benefit from such movements.

Investment by FIIs are regulated by the SEBI and the RBI defines and maintains the cap or ceiling on such investments. The different types of FIIs who are allowed to invest in India are:

Asset Management Companies

Endowments

Foreign Mutual Funds

Hedge Funds

Insurance Companies

Investment Banks

Pension Funds

Sovereign Wealth Funds

Treasury Funds

Trusts – Private and Public

University Funds

Read More - Foreign Institutional Investor

[investyadnya]

𝗙𝗼𝗿𝗲𝗶𝗴𝗻 𝗜𝗻𝘀𝘁𝗶𝘁𝘂𝘁𝗶𝗼𝗻𝗮𝗹 𝗜𝗻𝘃𝗲𝘀𝘁𝗼𝗿 (𝗙𝗜𝗜𝘀)

𝗙𝗼𝗿𝗲𝗶𝗴𝗻 𝗜𝗻𝘀𝘁𝗶𝘁𝘂𝘁𝗶𝗼𝗻𝗮𝗹 𝗜𝗻𝘃𝗲𝘀𝘁𝗼𝗿 (𝗙𝗜𝗜𝘀) continued to pump $3.54 Bn into Indian Equities in February month. Out of which, almost 55% of the FII inflows contributed by Banking and Financial Services stocks. What made the BFSI sector attractive for the FIIs? Here is a detailed Sector-wise analysis of FII inflow/ outflow in the month of  Feb-21.To Know More on FII Visit Our Blog:

https://investyadnya.in/stock-articles/sector-wise-fii-inflows-in-india-fii-stocks-yadnya-investment-academy?fbclid=IwAR0Ec83alHizEbFZwGnn9q2V0l2e4PiZnO2i_u3JNDU4H7xD3o276SVJxrQ

[elite-investment-advisory-blog]

Stock Markets Today, Nifty Crosses 11,750

Indian stock benchmark indices opened the trading action on Wednesday at a record new high. The BSE Sensex rose 169 pts to a new highs of 39,226 while the NSE Nifty moved upto 11,750, to hit a new record high. Indian rupee also opened the day with marginal gains at 68.72 v/s US dollar. Leading gainers at this time are IndiaBulls Housing Finance, IndusInd Bank, Tata Motors, JSW Steel and Bharti Airtel, while major losers are BPCL, IOC, Eicher Motors, Infosys and TechMahindra. Nifty Bank index rose 0.52% at 30,512.40 with all components in green rejoiced by the Supreme Court’s decision to strike down the RBI's circular on resolution of stressed assets.  Asian shares moving at a seven-month high on brisk economic data and hopes of a rate cut by the RBI and the current govt returning to power. Also, huge fund inflow by Foreign Institutional Investors (FIIs) in the past month, have also added to the gains in the Indian stock market today. Get Nifty Future Tips , Commodity tips, Stock future tips by Best Stock Advisory Service in India. Read the full article

[trucksuvidha-blog]

After muted TOT response, NHAI toys with equity offer to raise funds 

Read more at:

#India #Transportation #Transport #NHAI #NationalHighwayAuthorityOfIndia #IndianInvestors #SPV #ForeignInstitutionalInvestors #GreenfieldProjects #EquityPartners #FundingHighwayProjects #DelhiMumbaiExpressway #NIIF #TOT

[jhunjhunwalas]

#FII or #FPI trading activity on #BSE, #NSE & #MCXSX in #CapitalMarketSegment for 4 days as on 20th August 2014 . . FII - Foreign Institutional Investors FPI - Foreign Portfolio Investors Provisional data released by stock exchanges #CapitalMarket #BSEBombayStockExchange #NSENationalStockExchange #ForeignInstitutionalInvestors #ForeignPortfolioInvestors For more Informative post click : https://www.linkedin.com/company/jhunjhunwalas

[stockmarketpulse]

Markets today closed at all-time high, closing high for straight third day. After opening flat market continued to gain through-out the trading session to close near days high. Foreign institutional investors seems to have vindicated, improving macro-economic data and the survey showing BJP-led government coming to power. Foreign institutional investors have been buyers for past 15 trading sessions. The BSE Sensex gained by 1.89 percent up by 405.92 points to 21919.79. It touched a high of 21960.89. The CNX Nifty surged nearly 2 percent up by 125.50 points to 6526.65. It opened at 6413.95 which too was day’s low, and touched a high of 6537.8 intraday.