The SEBI on April 29, 2022 has provided Modification in the Operational Guidelines for Foreign Portfolio Investors(FPI), Designated Depository Participants(DDP) and Eligible Foreign Investors. The modified guidelines provides that when an FPI request for name change, the DDP shall effect the change in name in the certificate.
The DDP shall issue a letter and fresh registration certificate to applicant acknowledging the change in name along with statement that the name change has been granted without prejudice to any tax liability/ implication in India.
