MNR International Ltd. wants to raise funds through issue of Foreign Currency Convertible Bonds (FCCBs) through automatic route. As a Compliance Officer of the company answer the following: Usage of FCCB proceeds.
CS Professional · Secretarial Audit, Compliance Management and Due Diligence · PYQS · December 2021
MNR International Ltd. wants to raise funds through issue of Foreign Currency Convertible Bonds (FCCBs) through automatic route. As a Compliance Officer of the company answer the following: Usage of FCCB proceeds.
Answer & Explanation:
Usage of FCCB proceeds - The FCCB proceeds shall not be used for investment in stock market, and may be used for such purposes for which ECB proceeds are permitted to be utilized under the ECB Scheme.
Topics: Compliance Management
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