Repatriation of NCD redemption proceeds permitted without prior central bank approval when original approval conditions are met. Companies that issued NCDs/PCDs to NRIs/OCBs on a repatriation basis no longer require prior Reserve Bank permission to remit redemption proceeds, provided they have complied with all other conditions stipulated in their original approval letters and the issuance aligns with the general permission for rupee borrowings by way of NCDs under the FEMA 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.
Repatriation of NCD redemption proceeds permitted without prior central bank approval when original approval conditions are met.
Companies that issued NCDs/PCDs to NRIs/OCBs on a repatriation basis no longer require prior Reserve Bank permission to remit redemption proceeds, provided they have complied with all other conditions stipulated in their original approval letters and the issuance aligns with the general permission for rupee borrowings by way of NCDs under the FEMA framework.
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