these Regulations and exercising the option/ right, may exit without any assured return, subject to the pricing guidelines prescribed in these Regulations and a minimum
respondents, the object of Put Option Deed
was to provide assured returns to foreign investors in the securities of
an Indian company which was expressly ... requirements under the Foreign
Exchange Management Regulations, in as much as assured returns
were prohibited under the said regulations. It is further contended
that under
disclose that NSEL received any money or
commodity with an assured return. Rather, the difference between the
buy contract and the sell contract ... farmer‘ contracts, paired contracts, e-series contracts, among
others. NSEL guaranteed assured returns to investors;
(ii) The provision of warehouse receipts along with the assurance
purchase securities from the petitioner, a foreign investor, for
an "assured return" violates the Foreign Exchange Management Act, 1999
(for brevity "FEMA ... Indian law and FEMA, rather than an
optionality clause with an assured return. It states that the invocation of this
clause depended on specific events
official amendments provide that the subscriber seeking minimum assured returns shall be allowed to opt for investing his funds in such schemes providing minimum assured ... satisfied with this; it has no assurance or no assured return; in spite of that, I do not know how they are satisfied
existing one, that is US-64. Unit-I will manage the assured return schemes, including US-64, as long as they continue. When this will ... crore on account of US-64 and also 21 assured-return schemes would be with UTI-I which would be ultimately wound up after
estate
developers under the Code by allottees who had entered into
“assured returns / committed returns” agreements with these
developers, whereby, upon payment of a substantial ... held that amounts raised
by developers under assured return schemes had the “commercial
effect of a borrowing”, which became clear from the developer’s
annual
noted as under:
"I would take a different view. The assured return applies
where the overseas investor gets his entire principal PLUS a
certain ... intention behind the regulation (that there would be no assured
return) the foreign investor has a merit in this claim. The larger
of issue
four agreements contain 'target clauses'
providing for 'assured return' to the investor based on the profitability
and sales even if target ... Such 'target clauses'
providing assured return are prohibited under the said circular of RBI.
10. It is further submitted that KEB Hana Bank
resulting on
redemption of units by the Mutual Fund on its assured return schemes
and as per the directions of RBI and SEBI, whereas ... because the Mutual Fund was redeemed at the assured
return. The Mutual Fund has been paid this amount by the assessee
because Mutual Fund
