In the case of any divergence from reported monthly data, the same should be informed to Sebi in a prescribed format. Presently, the details of ODI holders need to be mandatorily reported to Sebi on a monthly basis. The new rules will make it tougher to use P-Notes as an offshore instrument without disclosing the money trail and details of their users. The said certificate should be filed within one month from the close of every calendar year," said Sebi Sebi has now decided that in the monthly reports on ODIs all the intermediate transfers during the month would also be required to be reported.

Source: dna June 11, 2016 05:21 UTC