Foreign Portfolio Investor access to non-convertible debentures permitted; direct transactions allowed under FEMA regulatory framework. Eligible overseas investors may acquire non-convertible debentures/bonds either directly or in accordance with prevailing market practice on a repatriation basis, subject to existing regulatory terms and any specifications issued by the financial regulator and securities regulator. Category I authorised dealers must inform constituents, and the directions are issued under the foreign exchange statute without prejudice to other required permissions.
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Provisions expressly mentioned in the judgment/order text.
Foreign Portfolio Investor access to non-convertible debentures permitted; direct transactions allowed under FEMA regulatory framework.
Eligible overseas investors may acquire non-convertible debentures/bonds either directly or in accordance with prevailing market practice on a repatriation basis, subject to existing regulatory terms and any specifications issued by the financial regulator and securities regulator. Category I authorised dealers must inform constituents, and the directions are issued under the foreign exchange statute without prejudice to other required permissions.
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