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Investment by Foreign Portfolio Investors (FPI) in Defaulted Bonds - Relaxations - FEMA - 12

Extract

..... RBI/2020-21/105 A.P. (DIR Series) Circular No. 12 February 26, 2021 To All Authorised persons Madam / Sir, Investment by Foreign Portfolio Investors (FPI) in Defaulted Bonds - Relaxations Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to Foreign Exchange Management (Debt Instruments) Regulations, 2019 notified vide Notification No. FEMA. 396/2019-RB dated October 17, 2019, as amended from time to time, and the relevant directions issued thereunder. A reference is also .....

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Investment by Foreign Portfolio Investors (FPI) in Defaulted Bonds - Relaxations - FEMA

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..... ssued by Asset Reconstruction Companies and debt instruments issued by an entity under the Corporate Insolvency Resolution Process as per the resolution plan approved by the National Company Law Tribunal under the Insolvency and Bankruptcy Code, 2016 are exempt from these requirements. It has now been decided to exempt investments by FPI in NCDs/bonds which are under default, either fully or partly, in the repayment of principal on maturity or principal instalment in the case of amortising bond .....

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Investment by Foreign Portfolio Investors (FPI) in Defaulted Bonds - Relaxations - FEMA

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