Investments by FPIs in REITs, InvIts, AIFs and corporate bonds under default

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ges. 3. The Depositories (NSDL and CDSL). Sir/ Madam, Sub: Investments by FPIs in REITs, InvIts, AIFs and corporate bonds under default. A. REITs, InvIts and AIFs 1. RBI had vide notification No. FEMA.355/2015-RB dated November 16, 2015 carried out necessary amendments in Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) (Eleventh Amendme....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ar CIR/IMD/FIIC/1/2015 dated February 03, 2015, FPIs shall be permitted to acquire NCDs/bonds, which are under default, either fully or partly, in the repayment of principal on maturity or principal installment in the case of an amortising bond. FPIs shall be guided by RBI's definition of an amortising bond in this regard. 6. Such NCDs/bonds restructured based on negotiations with the issuing I....