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    <description>Applications for buyback or prepayment of Foreign Currency Convertible Bonds (FCCBs) will be considered under the approval route until June 30, 2010, provided issuers comply with the terms and conditions in A.P. (DIR Series) Circular Nos. 39 (Dec 8, 2008) and 65 (Apr 28, 2009). Applications with supporting documents must be submitted via designated AD Category I banks to the Reserve Bank of India&#039;s Foreign Exchange Department. AD Category I banks should inform affected constituents. Directions are issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999, without prejudice to other statutory permissions.</description>
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