https://www.taxtmi.com/circulars?id=1978 Prepayment of foreign currency convertible bonds by Indian issuers is permitted until 30 September 2003; issuers may initiate prepayment but actual buy back requires holder consent. Prepayment must not exceed face value including expenses, bonds repurchased must be cancelled and not reissued, and funds for prepayment must not come from fresh external debt. The scheme operates under the automatic route with limits on prepayment from local resources and no limit for EEFC funds or inward equity remittances if conditions are met. Companies must report details of repurchases and sources of funds to the Ministry of Finance and the Reserve Bank within 30 days of completion. en-us Thu, 27 Mar 2003 00:00:00 +0530 Mon, 06 Oct 2008 14:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=1978 Prepayment of foreign currency convertible bonds by Indian issuers is permitted until 30 September 2003; issuers may initiate prepayment but actual buy back requires holder consent. Prepayment must not exceed face value including expenses, bonds repurchased must be cancelled and not reissued, and funds for prepayment must not come from fresh external debt. The scheme operates under the automatic route with limits on prepayment from local resources and no limit for EEFC funds or inward equity remittances if conditions are met. Companies must report details of repurchases and sources of funds to the Ministry of Finance and the Reserve Bank within 30 days of completion. Circulars FEMA Thu, 27 Mar 2003 00:00:00 +0530 https://www.taxtmi.com/circulars?id=1978