It has now been
decided to permit FPI to acquire NCDs/bonds, which are under default. The
revised maturity period of such restructured NCDs/bonds, should be three years
or more.
The
FPI, which proposes to acquire such bonds should disclose to the Debenture
Trustees the terms of their offer to the existing debenture holders / beneficial
owners from whom they are acquiring. Such investment should be within the
overall limit prescribed for corporate debt from time to time.
Based on RBI
Circular dt 26/11/15. Please visit www.rbi.org.in for any
further clarification if required….. Poppy
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