Foreign investment in rupee bonds: non-residents may subscribe to tax-free secured non-convertible bonds enabling on-lending to infrastructure or deposit placement. Resident entities authorised by the Government of India may issue tax-free, secured, redeemable, non-convertible bonds in Rupees to persons resident outside India; proceeds may be used only for on-lending/re-lending to the infrastructure sector or placed in fixed deposits with banks in India pending utilisation, pursuant to amendments to the Foreign Exchange Management (Borrowing and Lending in Rupees) Regulations and under the authority of the Foreign Exchange Management Act, 1999.
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.
Foreign investment in rupee bonds: non-residents may subscribe to tax-free secured non-convertible bonds enabling on-lending to infrastructure or deposit placement.
Resident entities authorised by the Government of India may issue tax-free, secured, redeemable, non-convertible bonds in Rupees to persons resident outside India; proceeds may be used only for on-lending/re-lending to the infrastructure sector or placed in fixed deposits with banks in India pending utilisation, pursuant to amendments to the Foreign Exchange Management (Borrowing and Lending in Rupees) Regulations and under the authority of the Foreign Exchange Management Act, 1999.
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