https://www.taxtmi.com/circulars?id=11135 Premature buyback and prepayment of FCCBs are allowed through expanded automatic and approval routes. Under the automatic route, buyback value must be at least an 8% discount to book value, funded from existing foreign currency funds (including EEFC) or compliant fresh ECBs, with applicable all in cost ceilings for short term or relevant maturities. Under the approval route, prior Reserve Bank approval is required and tiered minimum discounts on book value apply by redemption value bands; applications must be submitted through designated AD Category I banks to the ECB Division. The facility is effective immediately and must be completed by the specified cut off date. en-us Thu, 30 Jun 2011 00:00:00 +0530 Thu, 30 Jun 2011 18:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=11135 Premature buyback and prepayment of FCCBs are allowed through expanded automatic and approval routes. Under the automatic route, buyback value must be at least an 8% discount to book value, funded from existing foreign currency funds (including EEFC) or compliant fresh ECBs, with applicable all in cost ceilings for short term or relevant maturities. Under the approval route, prior Reserve Bank approval is required and tiered minimum discounts on book value apply by redemption value bands; applications must be submitted through designated AD Category I banks to the ECB Division. The facility is effective immediately and must be completed by the specified cut off date. Circulars FEMA Thu, 30 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/circulars?id=11135