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<h1>FPI investment in non-convertible preference shares permitted, counted against corporate debt limits and allowed on repatriation basis.</h1> Permitting Foreign Portfolio Investors (FPIs) to invest on a repatriation basis in non-convertible, redeemable preference shares and debentures of Indian companies listed on recognised exchanges, where such securities may be issued to non-resident holders as bonus under a court-approved scheme subject to tax authority no-objection; such FPI investments are to be reckoned against the Corporate Debt Investment Limit.