FCCB

Issue of FCCBs and Ordinary shares (through Depository Receipt Mechanism) scheme, 1993 amended

Fema / RBI - A scheme for issue of Foreign Currency Convertible Bonds and Ordinary shares (through Depository Receipts Mechanism) was notified in 1993 to allow the Indian Corporate sector to access global capital markets through issue of Foreign currency Convertible Bonds (FCCBs) / Equity Shares under the Global Depository Receipt Mechanism (GDR) and...

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Foreign companies underwriting income not taxable in India: ITAT

Fema / RBI - Foreign firms earning through underwriting services in India without having a permanent establishment here will not be required to pay tax on that income, tax tribunal said in a ruling. Income Tax Appellate Tribunal (ITAT) gave this ruling in case of over Rs nine crore payment by auto maker Mahindra and Mahindra...

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International Financial Reporting Standards (IFRS) norms may be diluted before rollout

Fema / RBI - With less than six months to go before the nation moves towards a globally-recognised accounting system, the government plans to dilute some key provisions relating to foreign exchange differences and overseas borrowings which will make global invest...

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Forex derivative loss: No relief in sight for Indian Companies

Fema / RBI - Indian corporate sector has raised significant funds through foreign currency loans like FCCBs, ECBs, etc., during FY07 and FY08. The corporate sector had preferred to keep its forex payable positions un-hedged in anticipation of appreciating INR trend to continue wherein FCCBs would eventually get converted into equity. While at the same...

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RBI extends time limit for buyback of Foreign Currency Convertible Bonds (FCCBs)

RBI/2010-11/587 A. P. (DIR Series) Circular No.75 - (30/06/2011) - A. P. (DIR Series) Circular No.75 After reviewing the current policy on buyback/prepayment of Foreign Currency Convertible Bonds (FCCBs), the Reserve Bank in consultation with the Government of India, has decided to extend the time limit for buyback of FCCBs issued by Indian companies up to March 31...

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Buyback/Prepayment of Foreign Currency Convertible Bonds (FCCBs)

A.P. (DIR Series) Circular No. 7 - (09/08/2010) - Attention of Authorised Dealer Category – I (AD Category – I) banks is invited to the A.P. (DIR Series) Circular No. 44 dated March 29, 2010 in terms of which Indian companies were allowed to buyback their Foreign Currency Convertible Bonds (FCCBs) under the approval route, up to June 30, 2010, ...

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RBI Circular on Buyback / Prepayment of Foreign Currency Convertible Bonds (FCCBs)

RBI/2008-09/461, (A. P. (DIR Series) Circular No 65 - (28/04/2009) - Attention of Authorised Dealer Category - I (AD Category - I) banks is invited to A.P.(DIR Series) Circular No. 39 dated December 8, 2008 and A.P. (DIR Series) Circular No. 58 dated March 13, 2009 on the captioned subject. In terms of Para 4 B of A.P (DIR Series) Circular No. 39 dated December 8, 20...

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Recent Posts in "FCCB"

RBI extends time limit for buyback of Foreign Currency Convertible Bonds (FCCBs)

RBI/2010-11/587 A. P. (DIR Series) Circular No.75 (30/06/2011)

A. P. (DIR Series) Circular No.75 After reviewing the current policy on buyback/prepayment of Foreign Currency Convertible Bonds (FCCBs), the Reserve Bank in consultation with the Government of India, has decided to extend the time limit for buyback of FCCBs issued by Indian companies up to March 31, 2012 at reduced discount rates. Accord...

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International Financial Reporting Standards (IFRS) norms may be diluted before rollout

With less than six months to go before the nation moves towards a globally-recognised accounting system, the government plans to dilute some key provisions relating to foreign exchange differences and overseas borrowings which will make global invest...

Read More
Posted Under: Fema / RBI |

Buyback/Prepayment of Foreign Currency Convertible Bonds (FCCBs)

A.P. (DIR Series) Circular No. 7 (09/08/2010)

Attention of Authorised Dealer Category – I (AD Category – I) banks is invited to the A.P. (DIR Series) Circular No. 44 dated March 29, 2010 in terms of which Indian companies were allowed to buyback their Foreign Currency Convertible Bonds (FCCBs) under the approval route, up to June 30, 2010, subject to the issuers complying with al...

Read More

Forex derivative loss: No relief in sight for Indian Companies

Indian corporate sector has raised significant funds through foreign currency loans like FCCBs, ECBs, etc., during FY07 and FY08. The corporate sector had preferred to keep its forex payable positions un-hedged in anticipation of appreciating INR trend to continue wherein FCCBs would eventually get converted into equity. While at the same...

Read More
Posted Under: Fema / RBI |

Issue of FCCBs and Ordinary shares (through Depository Receipt Mechanism) scheme, 1993 amended

(15/02/2010)

A scheme for issue of Foreign Currency Convertible Bonds and Ordinary shares (through Depository Receipts Mechanism) was notified in 1993 to allow the Indian Corporate sector to access global capital markets through issue of Foreign currency Convertible Bonds (FCCBs) / Equity Shares under the Global Depository Receipt Mechanism (GDR) and...

Read More
Posted Under: Fema / RBI |

Foreign companies underwriting income not taxable in India: ITAT

Foreign firms earning through underwriting services in India without having a permanent establishment here will not be required to pay tax on that income, tax tribunal said in a ruling. Income Tax Appellate Tribunal (ITAT) gave this ruling in case of over Rs nine crore payment by auto maker Mahindra and Mahindra...

Read More
Posted Under: Fema / RBI |

RBI Circular on Buyback / Prepayment of Foreign Currency Convertible Bonds (FCCBs)

RBI/2008-09/461, (A. P. (DIR Series) Circular No 65 (28/04/2009)

Attention of Authorised Dealer Category - I (AD Category - I) banks is invited to A.P.(DIR Series) Circular No. 39 dated December 8, 2008 and A.P. (DIR Series) Circular No. 58 dated March 13, 2009 on the captioned subject. In terms of Para 4 B of A.P (DIR Series) Circular No. 39 dated December 8, 2008, Reserve Bank has been considering pr...

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