Section 4(7A) in The Foreign Exchange Management (Transfer Or Issue Of Security By A Person Resident Outside India) Regulations, 2000
(7A)[ A QFI may purchase equity shares of an Indian company subject to the terms and conditions specified in Schedule 8.] [Inserted by Notification No. G.S.R. 795 (E) dated 19.10.2012 (w.e.f. 13.1.2012)][Explanation: For the purposes of sub-regulations (1) to (7) above, no class of investor referred to in those sub-regulations shall make investment, directly or indirectly, in any security, issued by an Indian company which is engaged or proposes to engage in any of the activities in which foreign investment is prohibited under sub-regulation (b) of Regulation 4 of the Foreign Exchange Management (Permissible Capital Account Transactions) Regulations, 2000, as amended from time to time.] [Inserted by Notification No. G.S.R. 795 (E) dated 19.10.2012 (w.e.f. 13.1.2012)]
