Can a UK based company (owned by NRI) can open a Corporate account to invest in Equity market??
As per my knowledge, OCBs have been prohibited from making investments under Portfolio Investment Scheme. OCBs have been de-recognized as a class of investor entity w.e.f. September, 16, 2003. Further, the OCBs which have already made investments under the PIS are allowed to continue holding such shares till such time these are sold on the stock exchange.