FOREIGN EXCHANGE MANAGEMENT (BORROWING AND LENDING IN RUPEES) REGULATIONS, 2000Foreign Exchange Management (Borrowing And Lending In Rupees) Regulations, 2000
FOREIGN EXCHANGE MANAGEMENT (BORROWING AND LENDING IN RUPEES) REGULATIONS, 2000Foreign Exchange Management (Borrowing And Lending In Rupees) Regulations, 2000
Borrowing in rupees by Indian companies via NCDs subject to interest cap, minimum maturity and regulatory reporting requirements. Indian companies may raise rupee borrowings from NRIs/PIOs through Non-convertible Debentures issued by public offer, with interest capped relative to the ... Summary
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Borrowing in rupees by Indian companies via NCDs subject to interest cap, minimum maturity and regulatory reporting requirements.
Indian companies may raise rupee borrowings from NRIs/PIOs through Non-convertible Debentures issued by public offer, with interest capped relative to the prime lending rate, a minimum three-year maturity, and exclusion for specified businesses. The company must file detailed remittance and issue particulars with the Reserve Bank within thirty days, including investor lists, amounts, authorised dealers, and a company secretary's compliance certificate. Repatriation issues must comply with foreign investment ceilings and be funded by remittance or NRE/FCNR transfers; non-repatriation issues may use NRE/NRO/FCNR/NRNR/NRSR accounts, with NRSR-funded investments and returns non-repatriable.
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