Buyback / Prepayment of Foreign Currency Convertible Bonds (FCCBs)

The Reserve Bank of India (RBI) vide A. P. (DIR Series) Circular No 65 dated April 28, 2009 has now permitted Indian companies to buyback FCCBs up to USD 100 million (USD 50 million earlier) of the redemption value per company, out of internal accruals, with the prior approval of the RBI

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