Buyback of FCCBs permitted under approval route with discount requirement and reporting and compliance obligations. Continuation of the scheme permitting buyback of Foreign Currency Convertible Bonds (FCCBs) under the approval route, subject to a minimum discount on accreted value and compliance with foreign currency borrowing rules where applicable; other terms of the earlier circular remain applicable and the facility is time-bound. Post-buyback compliance requires submission of the ECB-2 return and a detailed report through the designated Category-I Authorised Dealer bank specifying outstanding FCCB amounts, accreted value bought back, buyback rates, amounts and sources of funds.
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.
Buyback of FCCBs permitted under approval route with discount requirement and reporting and compliance obligations.
Continuation of the scheme permitting buyback of Foreign Currency Convertible Bonds (FCCBs) under the approval route, subject to a minimum discount on accreted value and compliance with foreign currency borrowing rules where applicable; other terms of the earlier circular remain applicable and the facility is time-bound. Post-buyback compliance requires submission of the ECB-2 return and a detailed report through the designated Category-I Authorised Dealer bank specifying outstanding FCCB amounts, accreted value bought back, buyback rates, amounts and sources of funds.
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