Prohibition on Issue of Foreign Security by a Person Resident in India

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.... Investment Prohibition on Issue of Foreign Security by a Person Resident in India. 21. (1) Save as otherwise provided in the Act or in sub-regulation (2), no person resident in India shall issue or transfer a foreign security. (2) A person resident in India, being an Indian Company or a Body Corporate created by an Act of Parliament (i) may issue FCCBs not exceeding ^2[USD 750 M....

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...., change / prescribe any provision or proviso for issuance of FCEBs.] (3) The company/body corporate referred to in sub-regulation (2), issuing the FCCBs shall, within 30 days from the date of issue, furnish a report to the Reserve Bank giving the details and documents as under: a. Total amount for which FCCBs have been issued, b. Names of the investors resident outside India ....