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TMI BlogBorrowing in rupees by Indian companiesX X X X Extracts X X X X X X X X Extracts X X X X ..... 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 exceed the prime lending rat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent 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 the remittance has been received; (B) of issue of Non-convertible Debentures (NCDs), full details of the investment, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 remittance from outside India through normal banking channels or by transfer of funds held in the investor's Non-resident External (NRE)/Foreign Currency Non-resident (FCNR) account main ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... riable 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 way of issue of preference shares on or after 30th day of April, 2007 other than those which are fully and mandatorily convertible into equity within a specified time and issue of convertible debentures on or aft ..... X X X X Extracts X X X X X X X X Extracts X X X X
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