Company: WIT
Filing Date: 2025-05-22
Form Type: 20-F
Source: 0000950170-25-076303
Chunk: 146

Company: WIPRO LTD
Filing Date: 2025-05-22
Form: 20-F
Item: Item 10
Chunk 146
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 available for trading on the next working date of the allotment of shares.
Compliance requirement relaxations by SEBI
SEBI issued several relaxations in compliance with applicable laws by corporates. Vide its circular dated October 3, 2024, SEBI has extended the relaxation for sending physical copies of financial statements (including the Board’s report, the auditor’s report or other documents required to be attached therewith) to the shareholders, for general meetings conducted until September 30, 2025.
Foreign Direct Investment (“FDI”)
Foreign investments in India are governed by the provisions of the FEMA and the rules and regulations made thereunder. FEMA regulates transactions involving foreign exchange and provides that certain transactions cannot be carried out without the general or special permission of the RBI or the GoI, as the case may be.
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The Ministry of Finance notified the Foreign Exchange Management (Non-Debt Instruments) Rules, 2019 (“NDI Rules”) on October 17, 2019 superseding the Foreign Exchange Management (Transfer of Issue of Security by a Person Resident outside India) Regulations, 2017 (“TISPRO”) and the Foreign Exchange Management (Acquisition and Transfer of Immovable Property in India) Regulations, 2018. These rules govern foreign investments into India, including foreign direct investments by persons resident outside India.
Further, the RBI also notified the Foreign Exchange Management (Debt Instruments) Regulations, 2019, superseding TISPRO, and the Foreign Exchange Management (Mode of Payment and Reporting of Non-Debt Instruments) Regulations, 2019, which provides for reporting requirements in relation to any investment made under the NDI Rules.
The primary objectives of these norms are:
•To simplify the provisions governing foreign investment in India;
•To vest the Central Government with power over non-debt instruments; and
•To vest the RBI with the power over debt instruments.
The Foreign Direct Investment Scheme under the RBI’s ‘automatic route’, i.e., actions that do not require RBI approval, enables Indian companies, other than those specifically excluded, to issue shares and certain other capital instruments to persons residing outside India without prior permission from the RBI, subject to certain conditions. General permission has been granted for the transfer of shares and certain other capital instruments by a person resident outside India as follows: (i) for transfers of shares or certain other capital instruments held by a person resident outside India other than an NRI or an Overseas Citizen of India (“OCI”), to any person resident outside India and (