The Reserve Bank of India today notified that Crew B.O.S. Products Ltd., has passed resolutions at the board of directors'  meeting and a special resolution by the shareholders, to enhance the limit for purchase of its equity shares and convertible debentures by NRIS/PIOs though primary market and stock exchanges up to 24% of the paid up capital of the company under Portfolio Investment Scheme (PIS).

This would be subject to the Regulation 5(3) of FEMA Notification No.20/2000 RB dated May 03, 2000 (as amended from time to time).

RBI's approval is given subject to the condition that the onus of compliance with FDI policy and FEMA regulations including downstream investment would continue to remain on the Indian company Crew B.O.S. Products Ltd.,

R. R. Sinha
Deputy General Manager

Press Release: 2012-2013/1206