1.

The application should be completed in duplicate and submitted to the Chief General Manager, Exchange Control Department (Foreign Investment Division- NRI Cell), Reserve Bank of India, Central Office, Mumbai - 400 001 through a designated branch of an authorised dealer in India. Under the Portfolio Investment Scheme, only certain branches have been designated to undertake the work relating to investments. In order to facilitate such investments, it would be advisable if the applicants account is maintained with the same branch of the bank through which this application is submitted.

2.

This form may be used for permission to purchase debentures also.

3.

Applicants wishing to purchase shares/debentures without repatriation benefits should submit a separate application on form NRC to the above office of Reserve Bank through the same designated branch.

4.

To qualify for necessary permission for investment in shares/debentures, at least 60% ownership of the applicant company/firm/society should either directly or indirectly be with individuals of Indian nationality/origin resident outside India. In the case of trust, at least 60% of the beneficial interest must either directly or indirectly be held irrevocably by individuals of Indian nationality/origin resident outside India.

5.

For the purpose of the facility of investment in shares and securities, a person (not being a citizen of Pakistan or Bangladesh) shall be deemed to be of Indian origin, if (i) he, at any time, held Indian passport, or, (ii) he or either of his parenets or any of his grandparents was a citizen of India by virtue of the Constitution of India or Citizenship Act, 1955 (57 of 1955). A spouse (not being a citizen of Pakistan or Bangladesh) of an Indian citizen or of a person of Indian origin is also deemed to be a person of Indian origin.

Documentation:

6.

A certificate (in original) of a recent date in form OAC/OAC1 from an overseas Auditor/Chartered Accountant/Certified Public Accountant.

1.

(i)

Name and full address of the

(i)

Applicant

(ii)

Whether the applicant is a

(ii)

company, partnership firm,

society or trust

(iii)

Place of incorporation/

(iii)

Registration

(iv)

Date of incorporation/

(iv)

Registration

(v)

Percentage of ownership of the

(v)

applicant company/firm/society/

(irrevocable beneficial

interest in case of a trust)

held directly or indirectly by

individuals of Indian

nationality/origin resident

outside India

2.

Name and address of the bank branch

In India through which the applicant

Desires to purchase shares/debentures

3.

Source of funds from which payment

For shares/debentures to be purchased

Will be made:

(i)

By remittance from abroad

(i)

(ii)

From non-resident bank account

(ii)

in India

(a)

Nature of account viz.,

(a)

NRE/FCNR account

(b)

Account number

(b)

(c)

Name and address of the

(c)

bank branch maintaining the

Account

4.

Whether the applicant already holds

Any shares/convertible debentures in

Indian companies with benefits of

Repatriation/without benefits of

Repatriation. If so, please attach

a complete list of such shares/

Convertible debentures indicating the

Name and address of the company,

Total number and face value of the

Shares/convertible debentures held

Place:

Stamp

Date:

(Signature of Authorised Official)

Name:

Designation

Date:

Stamp

(Signature of Authorised Official)

Designation:

Name and Address

of Designated Bank