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of <h1>Indian Companies Can Issue Foreign Currency Exchangeable Bonds Under 2008 Scheme with RBI Approval</h1> The Issue of Foreign Currency Exchangeable Bonds Scheme, 2008, notified by the Ministry of Finance, outlines the framework for Indian companies to issue bonds in foreign currency. These bonds are exchangeable into equity shares of another Indian company. The issuing company must be part of the promoter group of the offered company, which must be listed and eligible for Foreign Direct Investment. Proceeds can be invested in promoter group companies or overseas ventures, but not in Indian capital markets or real estate. Approval from the Reserve Bank of India is required, and the bonds must comply with pricing, maturity, and taxation regulations as specified.
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