Guidelines for prepayment of Foreign Currency Convertible Bond (FCCB) Issues by Indian companies

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....7, 2003 To All Authorised Dealers in Foreign Exchange Madam/Sirs, Guidelines for prepayment of Foreign Currency Convertible Bond (FCCB) Issues by Indian companies Attention of authorised dealers is invited to A.P.(DIR Series) Circular No.29 dated March 11, 2002 allowing an Indian company or a body corporate, created by an Act of Parliament, to issue FCCBs under the automatic route w....

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....ie Chief General Manager F.No.15/11/99-NRI Government of India Ministry of Finance & Company Affairs Department of Economic Affairs (Investment Division) PRESS NOTE New Delhi, dated the 5^th February 2003 Guidelines for prepayment of FCCB issues by the Indian companies A Scheme for issue of Foreign Currency Convertible Bonds and Ordinary Shares (Through Depository Receipts Mec....

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.... bond. c. The pre-payment should be at most the face value of bonds and not exceeding the face value (inclusive of all expenses for such buy-back). d. The bonds purchased from the holders must be cancelled and should not be re-issued or re-sold. e. The funds resources for making such prepayment by the Company shall not be by resorting to fresh external debt. f. This prepayment scheme o....