Redemption of Foreign Currency Convertible Bonds (FCCBs).

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....aler Category - I (AD Category - I) banks is invited to A. P. (DIR Series) Circular No.5 dated August 1, 2005, as amended from time to time, relating to instructions / guidelines in respect of External Commercial Borrowings (ECBs), which are also applicable, mutatis mutandis, to FCCBs. 2. Keeping in view the need to provide a window to facilitate refinancing of FCCBs by the Indian companie....

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.....  The purpose of ECB/FCCB shall be clearly mentioned as 'Redemption of outstanding FCCBs' in Form 83 at the time of obtaining Loan Registration Number from the Reserve Bank; v.  The designated  AD - Category I bank should monitor the end-use of funds; vi.  All other aspects of ECB policy under the automatic route, such as, eligible borrower, recognised lender, end-u....

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....me depending upon evolving macroeconomic conditions and other relevant factors. 5. This facility shall come into force with immediate effect. 6. AD Category - I banks may bring the contents of this circular to the notice of their constituents and customers concerned. 7. The directions contained in this circular have been issued under sections 10 (4) and 11 (1) of the Foreign Exchange Mana....