Question
Which of the following statements is/are NOT CORRECT
with reference to the amendments made by the government for direct listing at IFSC by the local companies? I.The government has permitted the direct listing of Indian companies on the Gujarat International Finance Tec’s (GIFT’s) international exchanges to boost foreign investments. Currently, the framework allows unlisted public Indian companies to list their shares on the international exchange. II.The India International Exchange and NSE International Exchange are at present the only two permitted international exchanges in GIFT-IFSC. III.The non-residents and offshore investors, mutual funds and investors will be able to invest in the listed companies.Solution
The government has permitted the direct listing of Indian companies on the Gujarat International Finance Tec’s (GIFT’s) international exchanges to boost foreign investments. The Ministry of Finance issued a notification, amending the Foreign Exchange Management Act (FEMA) to permit the listing on the international exchanges in the International Financial Services Centre (IFSC). The corresponding provision to enable listing has also been made to the Companies Act. The move will enable startups and other domestic companies to access the global market and raise capital in foreign currency through GIFT IFSC.Currently, the framework allows unlisted public Indian companies to list their shares on the international exchange . The India International Exchange and NSE International Exchange are at present the only two permitted international exchanges in GIFT-IFSC.Only non-residents and offshore investors will be able to invest in the listed companies, thus domestic mutual funds and investors cannot participate. The IFSC Authority also issued details on the companies that can file a prospectus for listing at the GIFT City. Companies from sectors where FDI is prohibited will not be allowed to list. Also, the equity shares listed on international exchanges will be counted towards the foreign holding of the company.
T’s age is 3 times the age of D. 4 years ago, the ratio of T and D is 4:1. Find the age of P who is 5/3 of T’s age.
Which of the following numbers indicates the spinal cord's location in the human brain?
What number should be subtracted from both the terms of the ratio 17 : 21 so as to make it as 1 : 2 ?
1600 metres long train crosses a man who is moving in the same direction with a certain speed, in 16 seconds. If the same train can cross a tree in 10 s...
Suresh earned an interest of Rs. 645 on principal amount of Rs. 2000 at some rate of compound interest in 2 years. How much more/less interest would he ...
Under which Act it is mandatory to establish a "Court of Inquiry"?
The Directorate General of Mines Safety (DGMS) comes under which ministry?
The present age of Harish is 8 times the sum of the ages of his two sons. After 8 years, his age will be twice the sum of the ages of his sons. What is ...
What is the minimum and maximum age at which a subscriber can join the Atal Pension Yojana?
Which of the following is correctly matched?