Section 4(8) in The Foreign Exchange Management (Transfer Or Issue Of Security By A Person Resident Outside India) Regulations, 2000
(8)[ A registered Foreign Institutional Investor (FII) including SEBI approved sub-accounts of the Fils, registered with SEBI· or a Non Resident Indian (NRI) may purchase, hold or sell Indian Depository Receipts (IDRs) of eligible companies resident outside India and issued in the Indian capital market, subject to the terms and conditions specified in Para 2 of Schedule 7.] [Inserted by Notification No. G.S.R. 606 (E) dated 7.3.2012 (w.e.f. 8.5.2000).]
