Hi, can a company issue non convertible unsecured debentures, the FEMA guidelines provide for issue of mandatorily convertible debentures....please clarify
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Issue of non convertible debentures
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FEMA Guideline provides that a Company can issue only Fully Convertible Debentures / Fully Convertible Preference Shares and Equity Shares to Non-residents as a part of FDI.
Thus, any issue of Non-Convertible Debentures to non-resident will be treated as ECB and not as FDI.
Rgds,
Ashish
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