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.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
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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