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of <h1>MCA Clarifies Chapter III Exemption for FCCBs and FCBs Issuances to Non-Residents, Subject to Finance and RBI Rules.</h1> The Ministry of Corporate Affairs clarifies that the provisions of Chapter III of the Companies Act, 2013, do not apply to the issuance of Foreign Currency Convertible Bonds (FCCBs) and Foreign Currency Bonds (FCBs) by Indian companies to non-residents, provided these issuances comply with the Ministry of Finance regulations and Reserve Bank of India directives. This decision follows consultations with the Ministry of Finance and SEBI. The 1993 Scheme and RBI regulations govern these issuances, and the clarification is issued with the competent authority's approval. This circular is intended for all Regional Directors and Registrars of Companies.
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