TMI BlogBorrowing in rupees by Indian companiesX X X X Extracts X X X X X X X X Extracts X X X X ..... n rupees on repatriation or non-repatriation basis, from a non-resident Indian or a person of Indian origin resident outside India, by way of investment in Non-convertible Debentures (NCDs) subject to the following conditions; (i) the issue of Non-convertible Debentures (NCDs) is made by public offer; (ii) the rate of interest on such Non-convertible Debentures (NCDs) does not exce ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... amely; (a) a list containing names and addresses of Non-resident Indians (NRIs) [****] who have remitted funds for investment in Non-convertible Debentures (NCDs) on repatriation and/or non-repatriation basis, (b) amount and date of receipt of remittance and its rupee equivalent; and (c) names and addresses of authorised dealers through whom th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d to Non-resident Indians (NRIs) [***] to the total paid-up value of each series of Non-convertible Debentures (NCDs) issued shall not exceed the ceiling prescribed for issue of equity shares/ convertible debentures for foreign direct investment in India as specified by the Reserve Bank from time to time, under the relevant regulations, and (b) the amount of investment is received by remit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... orised bank in India , (b) where the investment is made out of funds held in Non-resident Special Rupee (NRSR) account, the interest on such Non-convertible Debentures (NCDs) shall also not be repatriable outside India; and the maturity proceeds and interest on such debentures are credited only to the Non-resident Special Rupee (NRSR) account of the investor. 1 [(4) The borrowing by ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
