Through a circular dated 6 June, the Reserve Bank of India (RBI) has permitted Securities and Exchange Board of India (SEBI)-registered foreign institutional investors (FIIs), qualified financial investors (QFIs), foreign portfolio investors (FPIs), and long-term investors, such as sovereign wealth funds, multilateral agencies, and pension, insurance or endowment funds, to invest on a repatriable basis in non-convertible/redeemable preference shares or debentures issued by an Indian company under a scheme of arrangement approved by a court in India under the Companies Act, 1956 or Companies Act, 2013. The Indian company must be listed on a recognized stock exchange in India.
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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, Bangalore, Singapore, Silicon Valley and Munich. It specializes in strategic legal, regulatory and tax advice coupled with industry expertise in an integrated manner.
