convertible bonds

The Reserve Bank's proposal to cap foreign investment in new banks below 50 per cent is aimed at maintaining the diversity of the Indian banking sector by avoiding a repeat instance of local banks losing their Indian -owned tag. Full Article

The ice freezing waves of recession had frozen the prospects of Indian industrial growth after September 2008.Indian industries have to cut short production, rescheduling the production, stopped investments in new projects and finally followed the gate of retrenchments. No vacancy was the song being played on the streets of Indian corporate houses. Full Article

Accounting Standards (AS) 30 and 31 have been issued by our Institute and will come into effect from April 1, 2011 with early adoption being recommendatory. AS-30 deals with recognition and measurement of financial instruments (including derivatives). AS-31 deals with presentation aspects and, in particular, with distinction between liabilities and equity. This distinction can be complex where corporates issue instruments like convertible debentures and foreign currency .. Full Article

The contentious issue of foreign ownership in local banks is set to be resolved. The Reserve Bank of India (RBI) has suggested to the finance ministry that foreign investment in local banks in the form of American depository receipts (ADRs), global depository receipts, foreign currency convertible bonds and any type of convertible warrants be excluded while calculating the foreign direct investment (FDI) [...] Full Article

The Reserve Bank of India (RBI) is considering a proposal to allow companies another six months to buy back or prepay their Foreign Currency Convertible Bonds (FCCBs). The deadline for the original buyback scheme ends on March 31. Of the 156 companies that raised money through FCCBs — which are a mix between a debt [...] Full Article