Section 9(2)(iii) in The Foreign Exchange Management (Transfer Or Issue Of Security By A Person Resident Outside India) Regulations, 2000
(iii)A person resident outside India holding the [shares or convertible debentures or warrants of an Indian company or units of an Investment Vehicle] [Substituted by Notification No. G.S.R. 858 (E), dated 16.11.2015 (w.e.f. 8.11.2005)] of an Indian company in accordance with these regulations