https://www.taxtmi.com/article/detailed?id=401 The Scheme governs issuance of Foreign Currency Exchangeable Bonds by Indian issuing companies to non resident subscribers, allowing exchange into offered company shares. Issuance requires Reserve Bank approval; issuing companies must be part of the promoter group and hold offered shares, the offered company must be listed and FDI eligible, and subscribers must comply with FDI policy and sectoral caps. Corporate and securities approvals, disclosure of shareholding, and maintenance of offered shares free of encumbrances until exchange or redemption are mandatory. Interest is subject to deduction at source and exchange or offshore transfers between non residents are not taxable as capital gains in India. en-us Sat, 27 Jun 2009 00:00:00 +0530 Sat, 27 Jun 2009 07:48:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=401 The Scheme governs issuance of Foreign Currency Exchangeable Bonds by Indian issuing companies to non resident subscribers, allowing exchange into offered company shares. Issuance requires Reserve Bank approval; issuing companies must be part of the promoter group and hold offered shares, the offered company must be listed and FDI eligible, and subscribers must comply with FDI policy and sectoral caps. Corporate and securities approvals, disclosure of shareholding, and maintenance of offered shares free of encumbrances until exchange or redemption are mandatory. Interest is subject to deduction at source and exchange or offshore transfers between non residents are not taxable as capital gains in India. Articles Income Tax Sat, 27 Jun 2009 00:00:00 +0530 https://www.taxtmi.com/article/detailed?id=401