Eligibility for foreign currency exchangeable bonds requires promoter-group issuance and compliance with FDI and securities restrictions. Issuance and subscription of Foreign Currency Exchangeable Bonds require the issuing company to be in the promoter group and hold the equity offered at issuance; the offered company must be listed and in an FDI-eligible sector and eligible for foreign-currency convertible instruments or external commercial borrowings. Companies barred from the securities market cannot issue such bonds. Subscribers must comply with FDI policy, observe sectoral caps, secure prior governmental approval when required, and entities prohibited by the securities regulator cannot subscribe.
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.
Eligibility for foreign currency exchangeable bonds requires promoter-group issuance and compliance with FDI and securities restrictions.
Issuance and subscription of Foreign Currency Exchangeable Bonds require the issuing company to be in the promoter group and hold the equity offered at issuance; the offered company must be listed and in an FDI-eligible sector and eligible for foreign-currency convertible instruments or external commercial borrowings. Companies barred from the securities market cannot issue such bonds. Subscribers must comply with FDI policy, observe sectoral caps, secure prior governmental approval when required, and entities prohibited by the securities regulator cannot subscribe.
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