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        FEMA

        Para 8 - Retention and Deployment of Proceeds of Foreign Currency Exchangeable Bond

        Issue of Foreign Currency Exchangeable Bonds Scheme, 2008

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        Retention and deployment of proceeds must follow External Commercial Borrowings policy for foreign currency exchangeable bonds abroad. Proceeds of foreign currency exchangeable bonds must be retained and/or deployed overseas in accordance with the policy applicable to proceeds of External Commercial Borrowings, aligning their offshore retention and permissible utilization with that framework.
                          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.

                                Retention and deployment of proceeds must follow External Commercial Borrowings policy for foreign currency exchangeable bonds abroad.

                                Proceeds of foreign currency exchangeable bonds must be retained and/or deployed overseas in accordance with the policy applicable to proceeds of External Commercial Borrowings, aligning their offshore retention and permissible utilization with that framework.


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