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of <h1>Foreign Currency Exchangeable Bonds require promoter group ownership and FDI sector compliance under FEMA 2008</h1> The statutory provisions establish eligibility criteria for Foreign Currency Exchangeable Bonds under FEMA 2008. The issuing company must be part of the promoter group and hold equity shares of the offered company at issuance time. The offered company must be listed and operate in sectors eligible for foreign direct investment. Companies restricted from Indian securities markets or restrained by regulatory authorities cannot issue such bonds. Subscribers must comply with foreign direct investment policies, sectoral caps, and obtain necessary approvals. Entities prohibited from securities dealings are ineligible to subscribe to these bonds.
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