Mr. Vishnu is a now a Non-Resident Indian (NRI), He had done some Equity shares investment while being resident through a resident Demat Account. He had some other Mutual Fund investments also in the name of his Children being guarding in investments.
Mr. Vishnu is living alone in abroad as his family including his wife and children continue to stay in Mumbai. He plans to send money from abroad.
As Mr. Vishnu is not intended to returning back soon to India so he wants to execute a POA In favor of his wife to operate his investments.
Mr. Vishnu wants to adhere all kind of Regulations and compliances from RBI to done all financial transaction as his residential status has got changed .
Kindly answer below questions based on the above information:
Question 1: As Vishnu has been a stock market investor and after becoming NRI he wants to buy some stock from secondary market through a recognized stock exchange. What is true regarding this?.
