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Attention
of Authorized Dealer Category - I (AD Category
- I) banks is invited to the A.
P. (DIR Series) Circular No.39 dated
December 8, 2009 on the captioned subject. In
terms of Para 7 of the above circular, the
entire procedure of buyback should be
completed by the Indian Companies by March 31,
2009.
2.
It has been decided to extend the date for
completing the entire procedure for buyback of
FCCBs from March 31, 2009 to December 31,
2009. Accordingly, the entire procedure of
buyback should be completed by December 31,
2009.
3. All
the other terms and conditions of buyback /
prepayment of FCCBs as mentioned in A.
P. (DIR Series) Circular No.39 dated
December 8, 2009, shall remain unchanged.
4. AD
Category - I banks may bring the contents of
this circular to the notice of their
constituents and customers concerned.
5. The
directions contained in this circular have
been issued under sections 10 (4) and 11 (1)
of the Foreign Exchange Management Act, 1999
(42 of 1999) and is without prejudice to
permissions / approvals, if any, required
under any other law.
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