Through a circular on 27 December 2016, the Reserve Bank of India has allowed foreign portfolio investors (FPIs) to acquire non-convertible debentures and bonds issued by Indian companies either directly or in any manner according to prevalent/approved market practice. The purpose of this amendment is to provide flexibility with regard to how FPIs may transact in such instruments.
The business law digest is compiled by Nishith Desai Associates (NDA). NDA is a research-based international law firm with offices in Mumbai, New Delhi, Bengaluru, Singapore, Silicon Valley and Munich. It specializes in strategic legal, regulatory and tax advice coupled with industry expertise in an integrated manner.