Buyback / Prepayment of Foreign Currency Convertible Bonds (FCCBs).

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..... ed to the A.P. (DIR Series) Circular No. 39 dated December 08, 2008 and A.P. (DIR Series) Circular No.75 dated June 30, 2011 on the captioned subject. 2. On a review, it has been decided to continue the scheme of buyback of FCCBs subject to certain modifications. 3. Accordingly, Reserve Bank will consider proposals from Indian companies for buyback of FCCBs under the approval route subject .....

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..... uch as, the outstanding amount of FCCBs, accreted value of FCCBs bought back, rate at which FCCBs bought back, amount involved, and source/s of funds may be submitted, through the designated AD Category - I bank, to the Reserve Bank. 5. AD Category - I banks may bring the contents of this circular to the notice of their constituents and customers concerned. 6. The directions contained in this .....

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