FPI acquisition of defaulted corporate bonds permitted subject to restructured minimum residual maturity and trustee disclosure. Permits Foreign Portfolio Investors (FPI) to acquire NCDs/bonds in default if restructured through negotiation so the revised residual maturity meets the minimum residual maturity requirement; such acquisitions must be within the overall corporate debt investment ceiling and FPIs must disclose offer terms to Debenture Trustees. Other FPI debt investment conditions remain unchanged.
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.
FPI acquisition of defaulted corporate bonds permitted subject to restructured minimum residual maturity and trustee disclosure.
Permits Foreign Portfolio Investors (FPI) to acquire NCDs/bonds in default if restructured through negotiation so the revised residual maturity meets the minimum residual maturity requirement; such acquisitions must be within the overall corporate debt investment ceiling and FPIs must disclose offer terms to Debenture Trustees. Other FPI debt investment conditions remain unchanged.
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