Dear All,
Could you assist me regarding the following.
1) Can the proceeds of FCCB be used for the project of a subsidiary? While the same was permitted as per the ECB guidelines of 2000, the Master Circular No. 07/2009-10 dated July 1, 2009 does not specifically speak about the same. Please Clerify.
2) Can an unlisted company raise funds through FCCB / GDR? I understand that the unlisted entities, subject to certain conditions, can issue FCCB / GDR as per the "Issue of Foreign Currency Convertible Bonds and Ordinary Shares (Through Depository Receipt Mechanism) Scheme, 1993". Please Assist.
Kamlesh C. Kulkarni.
CAclubindia
