Sharda Fertilizers Ltd., a listed company, proposes to make an issue of foreign currency convertible bonds (FCCBs) under the automatic route. You are required to answer the following with reference to the scheme, viz. th

CS Professional · Secretarial Audit, Compliance Management and Due Diligence · PYQS · June 2015
Sharda Fertilizers Ltd., a listed company, proposes to make an issue of foreign currency convertible bonds (FCCBs) under the automatic route. You are required to answer the following with reference to the scheme, viz. the Issue of Foreign Currency Convertible Bonds and Ordinary Shares (Through Depository Receipt Mechanism) Scheme, 1993 — Is there any ceiling on the issue of FCCBs ?

Answer & Explanation:

The issue of FCCBs shall be subject to a ceiling of US $500 million in any one financial year.

Topics: Foreign Currency Convertible Bonds (FCCBs)

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