On 30 March 2021, IND SEBI issued additional guidelines to designated depository participants for processing FPI request to surrender registration and ensure uniformity.

• To make an application to SEBI for seeking no objection certificate for surrender, DDP shall confirm accounts have nil balance, no fees are due, no proceedings are pending.
• DDP shall ensure that all the accounts held by the applicant in the capacity of FPI are closed and the CP code is deactivated within 10 days from the date of receipt of NOC.
• This circular shall come into force with immediate effect.