https://www.taxtmi.com/notifications?id=6471 The scheme permits Indian issuing companies within a promoter group to issue Foreign Currency Exchangeable Bonds to non residents exchangeable into shares of a listed offered company eligible for FDI; prior RBI approval is required, pricing must meet specified average market price tests, minimum five year maturity applies, exchange requires delivery of shares (no cash settlement), proceeds are restricted by ECB end use rules and outbound investment guidelines, corporate and SEBI approvals and disclosure obligations must be satisfied, and specified Indian tax withholding and non recognition rules apply to exchange and transfers between non resident holders. en-us Fri, 15 Feb 2008 00:00:00 +0530 Sat, 04 Oct 2008 14:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=6471 The scheme permits Indian issuing companies within a promoter group to issue Foreign Currency Exchangeable Bonds to non residents exchangeable into shares of a listed offered company eligible for FDI; prior RBI approval is required, pricing must meet specified average market price tests, minimum five year maturity applies, exchange requires delivery of shares (no cash settlement), proceeds are restricted by ECB end use rules and outbound investment guidelines, corporate and SEBI approvals and disclosure obligations must be satisfied, and specified Indian tax withholding and non recognition rules apply to exchange and transfers between non resident holders. Notifications FEMA Fri, 15 Feb 2008 00:00:00 +0530 https://www.taxtmi.com/notifications?id=6471