FPI investment in defaulted bonds exempted from short-term limits and minimum residual maturity requirements under RBI directions. FPIs are permitted to acquire NCDs/bonds under default in repayment of principal and such investments are exempted from the minimum residual maturity requirement, the short-term investment limit, and the investor limit applicable to FPI investment in corporate debt; this aligns their treatment with existing exemptions for security receipts, ARCs and approved CIRP resolution-plan instruments.
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 investment in defaulted bonds exempted from short-term limits and minimum residual maturity requirements under RBI directions.
FPIs are permitted to acquire NCDs/bonds under default in repayment of principal and such investments are exempted from the minimum residual maturity requirement, the short-term investment limit, and the investor limit applicable to FPI investment in corporate debt; this aligns their treatment with existing exemptions for security receipts, ARCs and approved CIRP resolution-plan instruments.
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