Reserve Bank of India (RBI) has restricted Non-Resident Indians (NRIs) from buying further shares in Asian Hotels (West) as the allowed limit of 10 per cent has been breached. FIIs, NRIs and PIOs (Persons of Indian Origin) can invest in primary and secondary capital markets in India through Portfolio Investment Scheme (PIS).
RBI monitors ceilings on FII/NRI/PIO investments in Indian companies on a daily basis. It has fixed the cut-off points two percentage points lower than the actual ceiling.
Asian Hotels (West) is into the business of hospitality industries & is managed by a professional Board of Directors consisting of eminent personalities & professionals.
