The Reserve Bank of India notified that the foreign shareholding by FIIs/RFPIs in M/s MT Educare Limited have gone below the revised threshold limit stipulated under the extant FDI Policy. Hence, the restrictions placed on the purchase of shares of the above company are withdrawn with immediate effect.

It may also be noted that all the approvals received against the said scrip are duly cancelled. Equity shares of M/s MT Educare Limited can now be purchased through primary market and stock exchanges.

The Reserve Bank has further notified that foreign institutional investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 100 per cent (revised from earlier limit of 24%) of the paid up capital of M/s MT Educare Limited under the Portfolio Investment Scheme.

The Reserve Bank has stated that the company has passed resolutions at its Board of Directors’ level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by FIIs. The purchases could be made through primary market and stock exchanges and would be subject to Regulation 5(2) of FEMA Notification No.20 dated May 03, 2000 (as amended from time to time) and other terms and conditions stipulated by the Reserve Bank.

The Reserve Bank has notified this under FEMA 1999.

Ajit Prasad
Assistant General Manager

Press Release : 2014-2015/683